HOW MUCH CAN YOU AFFORD:
You will need a minutes to develop your budget once you've gathered the necessary information. You can print out a budget form for developing your household budget here >> Print Budget Form

Some items you'll need are:

• Current monthly loan payments.
• Other monthly expenses (childcare, dues, etc.).
• Variable expenses. (Utilities, food, car repair, etc.).
• Annual or semiannual expenses (insurance, taxes, etc.).
• Non-fixed expenses for the last year (medical expenditures, etc.). This will give you an estimate of average expenses of this type.
• Estimate of personal expenses (entertainment, travel, etc.).
• An estimate of what your new mortgage payment will be. Which we will determine momentarily.

CHOOSE THE CORRECT MORTGAGE:
Are you moving soon? Do you plan to live in the home your financing for many years to come? Do you wish to pay off your home as soon as possible? These are important questions to determine the LOAN TYPE.

Debt Consolidation - Used to consolidate you current high interest rate loans into your your mortgage.
Refinance - Obtain a new loan for your existing home in order to obtain a better rate.
Home Improvement - "Refinance with Cash Out" but with the intent to use the money for home improvement.
2nd Mortgages can be used for this as well.
Home Equity Line of Credit - Apply for a 2nd mortgage that acts like a credit card.
Refinance with Cash Out - Obtain a new mortgage with the intent to exchange equity for cash.
Purchase - Obtain a mortgage for your first home or a new home. (New home refers to a newly built home or existing home)

Fixed Rate Mortgages:

15 Year Mortgages - Good for borrowers who wish to pay down the mortgage aggressively to reduce the amount of interest paid.
30 Year Mortgages - Better if you plan to live in a home long term or if your unsure. Borrow using 30-year mortgages and pay them down aggressively by making additional principal payments can be better then hitting the household budget with a 15-year note.

Adjustable Rate Mortgages: Better to lower payment and if you plan to sell your home soon. Interest rate remains fixed for five years before it starts to float.

• 6 month or 1 Year ARM - Good for borrowers who might sell or relocate within the first year.
• 3 or 5 Year ARM - Good for borrowers who want a good payment but don't want to live in the house for more than five years.
• 7 or 10 Year ARM - Good for borrowers who might want lower than a fixed rate.

Interest Only Mortgages: Borrower is paying the interest with no principal reduction.

ESTIMATE YOUR MONTHLY MORTGAGE PAYMENT:
Once you have decided how much you can afford and you have decided what loan type best fits your needs, it's time to estimate your monthly mortgage payment. CLICK HERE TO ESTIMATE YOUR MONTHLY MORTGAGE.

PRE QUALIFY:
Get an answer within 24hrs! Now it's time to Pre Qualify. The Pre Qualification process is a quick and easy method to determine whether the loan you have chosen is right for you without worrying about a rejection.
1 - CLICK HERE TO PRE QUALIFY NOW.
2 - CLICK HERE TO GET MORE INFORMATION ON THE PRE QUAL PROCESS.

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