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Are you searching for the perfect home, building a house, or refinancing your current mortgage? When it comes to selecting a mortgage, there are times when it can be challenging to determine how to get started.
Relax and take it easy. You focus on your dream home, and we will make financing less stressful. Our knowledgeable lending team will walk you through our mortgage or refinance options and assist you in finding a loan that is tailor-made to fit your needs.
You will need documents to verify your employment, income, and any assets you will use to secure the loan. Typically, pay stubs from the last two months, W-2 forms or tax returns for the past two years, current bank statements, and information about any other current debt. Your loan officer may request additional documentation.
Your credit score will impact your ability to qualify for a mortgage loan. Credit scores are determined by payment history, amounts owed, length of credit history, new credit accounts, and types of credit used. The better the credit score, the better the chance you will qualify for a loan with the best interest rate. Our trusted loan officers can help you see how your credit score may impact your future home loan application.
Many different mortgage options fit a variety of situations. Choosing the right type of loan will depend on several factors:
Your current financial situation
How do you expect your finances to change
How long do you intend to keep your home
How comfortable are you with the possibility that your mortgage payment may rise in the future
Your Old Point Mortgage loan officer will help guide you to the best mortgage loan.
Resources from Old Point
Home-buying Mistakes to Avoid
Not knowing what you can afford- It is important that you review your current costs, expenses, and savings before you decide how much to spend on a home. Don’t forget to account for mortgage fees, property taxes, homeowners insurance, utilities, HOA, and condo fees.
A good realtor will act as your partner throughout the entire home buying process. They will provide you with the knowledge and experience you need, so you can get the best deal possible. Partnering with a good agent will ultimately afford you the confidence, experience, and knowledge you deserve, so you can safely navigate the complicated path to buying a home.
Once you decide that you are ready to purchase a home, the home you choose to buy must meet your needs. When buying a home it is helpful to list all of the features and options and prioritize what is most important to you to be happy where you live.
Purchasing a home is always an exciting and emotional experience that has a major impact on your life. With the effects of the global pandemic on the housing market and our daily lives, it can add more factors to consider when buying a home. It is important that you empower yourself to make the best decision by doing your research, so you know the ins and outs of real estate before you purchase your next home. Buying a home will boost your long-term financials and give a sense of pride in homeownership, so if you are ready to make the move, follow these tips to purchase a home in 2021
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