Bring the questions. We have the answers.
Maybe you just started dreaming about your own home, or maybe you’re ready to close the deal –
no matter where you are in your journey, we’ve got you.
What if I can’t afford a 20% down payment?
What home price can I afford?
How do I get the best rate?
Don’t see your question here?
Overall, you’ll need a credit profile of at least 580 and a stable income. Something else that we look at is DTI, or your debt-to-income ratio. Generally, a DTI in the 36% to 43% range will get you more loan options. You’ll also need some amount of a down payment.
Here are some of our affordable loans and their different requirements:
- 1% down payment
- Credit profile above 620
- 3% down payment
- Credit profile above 620
- 3.5% down payment
- Credit profile above 580
Having a shorter term like a 15-year mortgage means you’ll pay less interest over the life of the loan. You’ll typically get a lower interest rate, too since it’ll take you less time to pay it back.
A 15-year mortgage can help you build equity faster, since more of your money is going toward paying down the loan in a shorter amount of time. However, your monthly payments will be higher with a 15-year mortgage than with a 30-year mortgage.
Most use a process called a comparative market analysis to estimate the value of a home.
This involves evaluating several factors:
- Nearby properties that have sold recently
- The home’s square footage
- Any special features in the home
Real estate agents may also factor in their knowledge of the area, market trends, and professional appraisals to land on a specific price.
Like most things related to home buying, this depends on a few factors.
- Type of loan
- Time of year
- Personal financial details
If everything goes smoothly, the process can take about 1-2 months.
Real people, real home buying dreams.
5/5
As an immigrant and first time borrower you made it so easy! Always there to answer my questions and the process was so quick.
Liz J.
Jun 2024
5/5
Provided gentle advice but never pressured me into making a decision I wasn't comfortable with.
Jennifer D.
Jun 2024
5/5
They helped me navigate a crazy market and got me an excellent deal on a great house.
Christine R.
Jul 2024
5/5
They made a dream into reality faster and more easily than I could have ever imagined.
Bob Edge
Dec 2023
5/5
Answered all my questions and went above and beyond in helping me understand the entire process as this is my first home loan.
Kathleen
Jul 2024
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