Contact Us

    [recaptcha]
    • Home
    • Products
      • Subprime
    • Guidelines
    • Rates
    • Lenders
    • Blog

    Non Qualified Mortgage

    Non Qualified Mortgage Rates, Guidelines, Lenders and Information

    Do You Know When’s the Right Time to Purchase a Home?

    January 15, 2017 By JustinM

    When it comes to buying a home, timing can be everything. Since this is something that requires careful planning, you need to know if you’re ready to take on the financial responsibility that comes with it.

    However, the question is: Are you ready to purchase a home for yourself?

    Your answer may depend on your current financial situation. When you decide to purchase a home, you have to consider taking time to ask yourself if you are ready to embark on your homeownership journey.

    In order to guide you in the right direction, here are questions you should ask yourself to assess if it’s already the right time for you to purchase a home.

    Have you saved enough money for a down payment?

    Perhaps the most important question you should ask yourself is if you have enough savings to purchase a home. If you do, then great. You’re one step closer to being a homeowner.

    For some people, however, saving at least 20 percent of a home’s asking price may be too much. As a result, a lot of potential homebuyers look for other options that will help them buy their dream home.

    This is where low-cost mortgages and down payment assistance programs come in. There are programs in the mortgage industry today that requires little to no down payment.

    Mortgage programs like those help low-income earners increase their chances of becoming homeowners.

    Ask our lenders today.

    Am I financially stable?

    Besides saving enough money for home buying costs, you need to know if you’re already financially stable enough to be able to pay your monthly mortgage dues?

    If you have a stable job with a reasonable income that can cover monthly mortgage payments, then it’s probably a good time to start preparing for homeownership.

    Do I know what I want in a home?

    Some homebuyers take a lot of time in choosing a home to purchase. In some cases, some people will take too long to choose a property to buy because they don’t know what they want in the first place.

    To avoid this from happening, you should have a good idea of what you are looking for in a home before you even start your homebuying journey.

    This way, you can avoid prolonging the entire home buying process or worse, seeing the perfect home being sold to someone else.

    This way to homeownership.

    Are you credit-worthy?

    One of the most important deciding factors for lenders in mortgage approval is checking your credit-worthiness.

    Your credit will determine if you’re ready to have a mortgage. It will tell lenders a lot about your financial habits.

    Keep in mind that getting a mortgage means years, if not decades, of financial responsibility. Therefore lenders diligently verifies your entire financial capability before trusting you with a loan.

    If you think you’re not yet credit-worthy, you may want to consider waiting and taking more time to improve until your ready.

    Is there a right mortgage program for me?

    Finally, it’s important that you get to know a lot about different mortgage programs in the market today.

    Through research, you can decide which one is perfect for your financial situation. You can compare qualified and non-qualified mortgages available or you can try your luck in government-backed loans.

    Your lender can also help you score a mortgage that’s perfect for you. As experts in their field, they will know your strengths and vulnerabilities and help point the right mortgage direction for you.

    Choose the right mortgage for you.

    Filed Under: Home Purchase Tagged With: buying a home, home buying, home buying process, mortgage tips, tips

    Our Experts Seen On:

    More Non Qualified Mortgage Info

    • How the Length of Your Credit History Affects Your Credit Score
    • Best Mortgages for Purchasing Rental Properties
    • What to Look For When Comparing Mortgage Lenders
    • Follow These Tips to Avoid Costly Home Renovation Mistakes
    • What Are The Biggest Challenges Facing First-time Home Buyers?

    Search

    IMPORTANT MORTGAGE DISCLOSURES:

    When inquiring about a mortgage on this site, this is not a mortgage application. Upon the completion of your inquiry, we will work hard to match you with a lender who may assist you with a mortgage application and provide mortgage product eligibility requirements for your individual situation.

    Any mortgage product that a lender may offer you will carry fees or costs including closing costs, origination points, and/or refinancing fees. In many instances, fees or costs can amount to several thousand dollars and can be due upon the origination of the mortgage credit product.

    When applying for a mortgage credit product, lenders will commonly require you to provide a valid social security number and submit to a credit check . Consumers who do not have the minimum acceptable credit required by the lender are unlikely to be approved for mortgage refinancing.

    Minimum credit ratings may vary according to lender and mortgage product. In the event that you do not qualify for a credit rating based on the required minimum credit rating, a lender may or may not introduce you to a credit counseling service or credit improvement company who may or may not be able to assist you with improving your credit for a fee.

    Copyright © Mortgage.info is not a government agency or a lender. Not affiliated with HUD, FHA, VA, FNMA or GNMA. We work hard to match you with local lenders for the mortgage you inquire about. This is not an offer to lend and we are not affiliated with your current mortgage servicer.

    Contact Us | Terms of Use | Privacy Policy | Media | DMCA Policy | Anti-spam Policy | Unsubscribe

    Mortgage.info

    NMLS ID #1237615 | AZMB #0928735

    8123 South Interport Blvd. Suite A, Englewood, CO 80112

    CLICK TO SEE TODAY'S RATES