FAQs For Home Buyers
How do we know what is the best type of financing for our particular family's situation?
The best way for you to determine which program would best suit your family's needs is to sit down with a representative and they will explain all of your financing options. Things to consider are: family size, how long you plan to stay in the home, current and projected income and debts, credit history and cash available to close. We are uniquely positioned to have almost all financing options available to us that anyone could want and/or require.
Can the seller pay for my down payment?
No. However, the down payment can be a gift from a relative or non-profit organization, or be borrowed if the loan is secured. The seller can pay for the borrower's closing costs, if negotiated.
What if I have no money at all?
There are programs that offer a no-down-payment option and, in conjunction with seller contributions, can make it so that you will not need to spend any out-of-pocket money to buy a home. Additionally, we can show you other ways to purchase with no cash up front. However, there are possibly some exceptions that can be made, so please contact your loan officer if you find yourself unable to meet these requirements.
How do we get prequalified for our first home?
By answering the questions in the online application section or phone consultation with a representative. Both can give you a ballpark idea of what price range you can afford. The next step is to get preapproved so that the money you need is already committed to you; this gives you the strength of a cash buyer when you make an offer.