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The #1 USDA Originator in the Nation 2014 & 2015 and Top Originator 2016!
Frequently Asked Questions
Q : How do I know how much house I can afford?
A : Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value. Give us a call, and we can help you determine exactly how much you can afford.
Q : What is the difference between a fixed-rate loan and an adjustable-rate loan?
A : With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to a loan consultant.
Q : How do I know which type of mortgage loan is best for me?
A : There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial picture and how long you intend to keep your home. Home Solution Lenders, Inc. can help you evaluate your options and help you make the most appropriate decision.
Q : What does my mortgage payment include?
A : For most homeowners, the monthly mortgage payments includes:
Q : How much money will I need to purchase a home?
A : The amount of money that is necessary depends on a number of items. Generally speaking though, you will need to supply:
Down Payment Methods: What is Acceptable?
What is NOT Acceptable?
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