Home Financing Considerations
Like the majority of consumers, you are probably planning to purchase your home with a mortgage loan. If you have not already done so, try a few calculations on our mortgage calculator to see what your estimated payments could be with any combination of different size loans, interest rates, and length of repayment period
Click on the calculator to begin: 
Terms and qualification vary under each type of loan program, and the amount of down payment may differ per program.
In general terms, a lender will be looking at the following:
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Your credit history
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Your income and employment stability
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Your ability to make payments without the risk of default
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Your available cash
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The appraised value of the property you are purchasing
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The loan-to-value ratio that your lender is willing to consider
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The maximum amount of loan obtainable under a program
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Whether you will need to pay an origination fee or “points”
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What closing costs will be involved
Your financing options could include:
Keep in mind that lenders are required to give you written information to help you compare and select a mortgage loan program that best meets your needs. A lender must provide you with a written “Good Faith Estimate” which will detail all estimated costs under each loan alternative. Don’t hesitate to ask as many questions as it takes to help you understand every aspect of the loan process.
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For additional information, click here. Consider shopping around. Speak to more than one lender. Be thorough. For still other lending sources, click here, or click here.
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