BUYERS

Some helpful info for new home buyers


Time to find a new home?

2018 is a fantastic time to buy

Buying your new home is a serious venture. It can be an absolute pleasure or a massive headache. Your house is not just your home, it is a serious investment in the dwelling, the area and your future. 

When buying a home — you're bound to have many questions. For example, "In what area can I find a home that suits my needs?", "How much money will I need to afford the monthly payments?" and "How long will the home buying process take?

Below are some helpful articles and resources to get you started answering these questions and sending  you on  your way to being a new home owner.


What is a Mortgage?

Your purchase of a home will be among the largest, most important purchases you'll make in your life. There are few things which cost as much; and, few things which will affect your life as much, either. As a first-time home buyer, therefore, it's important to have a feel for how the home buying process works, and what you should expect from your mortgage. Your mortgage is the loan you will use to buy your home. Mortgages are similar to other loans in that there is some amount borrowed; a rate of interest paid to the lender; and, a pre-determined number of years over which the loan must be repaid. The key part of a mortgage that makes it different from other loan types is that a mortgage loan is specifically used for the purchase of real estate. Also, mortgages can be customized. There are a bevy of loan programs available for today's home buyers including low- and zero-downpayment loans; loans for buyers of condominiums; and, loans for members of the U.S. military, as examples. With the help of your mortgage lender, you'll build the loan that best fits your needs.

 

Mortgage Calculator

Purchase price
Please enter here the amount you expect to pay for a home.
Enter a value
Down payment
Down payment is cash that you pay upfront for your home.
0.0%
Enter a value
Term in years
Number of years you have to pay.
years
Enter a value
Interest rate (per year)
The percentage of interest that you will pay on your mortgage for a specific term.
%
Enter a value
Property tax
Enter your property tax here if you know it.
per year
Enter a value
Home insurance
Most lenders require home insurance. Enter its price here.
per year
Enter a value
PMI
PMI is Private Mortgage Insurance which is usually required to pay if your Down payment less than 20%.
per month
Enter a value

Your total monthly payment


$

Principal & Interest
$
Home insurance
$
Property taxes
$
PMI
$