Purchase A Home
You have many options available to you when it comes to home financing. Your choice in lenders is just as important as the home you are buying. When we say "Enjoy your Money," we mean all of it, including that extra interest charge that you may be spending unnecessarily. Whether you are buying your first home, or your tenth investment property, Finicity Home Loans, LLC has the loan products to suit your needs.
What you should know before purchasing a home:
Should I be pre-approved before looking for a home?
Yes! It’s important to be pre-approved prior to making any offers to purchase a home. Here’s why:
- Sellers are more likely to accept your offer over another similar offer that has not been pre-approved
- Realtors will be more likely to invest their time with you if they know you have financing in place
- You will not waste time looking at homes that you may not be able to afford
Finicity Home Loans has products to accommodate borrowers who would like to put money down, as well as borrowers who will not be making a down payment.
There are costs associated with obtaining any loan product. These are called closing costs. Federal law requires that these costs be disclosed in a document called a "Good Faith Estimate." These costs may vary depending on the product you and your Finicity Home Loans financing expert decide on together. Keep in mind that different states have different costs associated with real estate. Find out more about your state’s real estate fees. Speak to one of our financing experts today.
Will my loan have a prepayment penalty?
No. Not a single mortgage option with Finicity Home Loans has a prepayment penalty. You can pay off your loan in part, or in full at anytime throughout the life of your loan.
One of the most common misconceptions when it comes to home financing is that owning a home is significantly more expensive than renting. Chances are good that the home you are renting has a mortgage against it, and the rent that you are paying is paying that mortgage. Owning a home is easier than you might think. If you can afford to rent, you can afford to buy. Speak to one of our financing experts today to find out more.
What should I compare when "shopping" for a mortgage?
If you are comparing two mortgages, make sure that you are making a true comparison by comparing “apples to apples.” There are many ways lenders can try to convince you that you are getting a good deal when in reality, the appearance of a better deal may be the wrong loan for you, and may cost you more in the long run. If something sounds too good to be true, it probably is. You should be comparing the following:
- Interest rate
- Finance charges and amounts
- Terms of the loan (fixed, adjustable, etc…)
- Reputation of the lending institution
- Annual Percentage Rate (APR takes into account all of your costs associated with the loan and is usually higher than your interest rate)
Will my loan be sold to another lender?
Although it is a common practice in the mortgage industry to sell mortgages to other companies, Finicity Home Loans, LLC is a subsidiary of US Bank who retains the vast majority of their loans.
