Tips on the Loan Process

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Hi {!Contact.FirstName},

One of the first questions people ask when they're shopping for a new home is, "How much will I need for a down payment?"

Different lenders may have different requirements. Your financial goals play an important factor as well.

Our goal is to find the best loan program that meets your needs. Once we know the amount of a monthly payment you qualify for, we'll have a better idea of what your down payment will be. Your options may be a 10%, 20%, or "standard" down payment.

However, there are other alternatives depending on the type of loan and other finance options. Some loans don't require any down payment.

Do and Don't statemnt goes right here and more information would follow:

  1. A higher mortgage and a lower down payment
  2. Private mortgage insurance
  3. Portfolio lenders
  4. Government-assisted financing
  5. Seller financing

In addition to your down payment, you will need to have cash reserved for closing costs, which is typically 4% of the purchase price of the home.

Please give me a call so we can discuss your down payment alternatives and find out what program works best for you!

To your success,

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