Home Purchases

Your first move should be to look into your mortgage options!

Are you dreaming of a home that perfectly matches your way of life, or do you require more space to accommodate your growing family? Take the first step and contact us for a complimentary financial analysis to discover how attainable your dream home can be.

As you prepare to transition from your current home to a new one, an early assessment of your mortgage options is essential. If an increase in your mortgage is necessary, you might consider the portability of your current mortgage or the possibility of blending your existing rate with the rate for the additional amount needed.

In today’s climate of historically low-interest rates, it may also be worthwhile to evaluate the benefits of refinancing your mortgage. Although breaking your current mortgage could incur a penalty—calculated by the greater of three months’ interest or the interest rate differential (IRD)—the long-term savings with a new, lower rate could offer significant financial advantages.

YOUR GUIDE TO HOME PURCHASES

To determine how much house you can afford, consider your income, debts, credit score, current interest rates, and the down payment you're able to make. A pre-approval from a lender can also give you a better idea of your price range.

During a home inspection, pay attention to the condition of the roof, foundation, electrical systems, plumbing, insulation, and the presence of mold or pests. An inspector can provide a detailed report on any issues that need to be addressed.

Closing costs are the fees and expenses you pay to finalize a mortgage beyond the home's price, such as loan origination fees, title insurance, taxes, and appraisal fees. They typically range from 2% to 5% of the loan amount.

A fixed-rate mortgage keeps the same interest rate throughout the term, which is ideal if you plan on staying in your home long-term and prefer predictable payments. An adjustable-rate mortgage may start with a lower rate but can change over time, which could be suitable if you plan to move or refinance in a few years.

Yes, you can negotiate the price of a home. The amount of leverage you have can depend on market conditions, the home’s time on the market, and the seller's circumstances. An experienced real estate agent can be invaluable in the negotiation process.

Unlock the Door to More: Explore Your Mortgage Options and Step into Your Dream Home Today!