Purchase a Home
Purchasing a home is a very exciting time, and being well prepared will help you make better decisions. Take this opportunity to learn more about home buying and the mortgage process. Below and throughout this site, you will find information that will help you with the purchase of your new home.
Am I really ready to buy?
Buying a home offers many advantages, one of the most significant being that it allows you to build equity (ownership) when you pay your mortgage each month. A common myth is that monthly mortgage payments are more expensive than rent. But, in many cases, mortgage payments can be even less than rent. When considering home ownership for the first time, you need to decide whether buying makes financial and practical sense for you right now or if you are better off renting. Consider both the advantages and disadvantages to renting as well as buying, and weigh the pros and cons for your particular situation.
How much “house” can I afford?
The first step toward finding the right home is to quickly compute your purchasing power and determine how much you can afford to pay each month. This saves you time by allowing you to focus on homes in your price range.
Down payment: Typically ranges from 3-30% of the cost of the house. The more you can put down, the greater equity you will have in your home and the lower your monthly payment will be. For down payments less than 20% you may also need to pay mortgage insurance.
Closing Costs: Typically range from 2-6% of the loan amount depending on your area.
On-going Costs:
Monthly mortgage payment
Homeowners insurance
Flood Insurance (if applicable)
Property taxes
Utilities
Maintenance
How much can I get pre-qualified for?
Before you go looking for a home, you should see if you are financially able to get a mortgage and get an estimate of what you pre-qualify for from a lender. If you are working with a real estate agent, getting pre-qualified lets them know you are a knowledgeable and serious buyer. Just fill out or Quick Quote form and we will give you all of the answers.
Get Pre-Qualified
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Our happy Clients
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"Don was professional and kept me informed throughout the process. I never felt any pressure to take a specific mortgage product. I was informed almost daily of rate changes, so I could make an educated decision of when I should lock in. The closing was handles in my home during the evening. Job well done!"
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"Don and SunMortgage refinanced my home, from start to finish, in just about 3 weeks. The entire process was smooth and extremely transparent. Don and SunMortgage will be the only company I call if I ever need another mortgage."
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"I choose don because patience and kindness he processes after contacting him 5 times before I start to use his service. It turns out to be a great choice I made during the process. It is our first time to purchase the home. With him, complex and time consuming process of financing has become a simple ,easy and enjoyable step for us. It has been a pleasure to work with Don on it. I highly recommend using don's service."