Your Resource Mortgage Banker will help you understand the upfront costs associated with buying a home, including your down payment, home inspection and closing costs. They will also discuss the recurring expenses that include mortgage payments, private mortgage insurance, homeowners insurance and property taxes so you can create an accurate budget before you buy. This simple calculator can help.
Congratulations! Buying your first home is one of the most important financial investments you’ll ever make. We’re honored to help.
From start to finish, our experienced mortgage specialists will answer your questions and identify any obstacles you may face, to save time, money and lead to better results. We’ll make sure you get the right mortgage for your budget.
How Resource Helps
The local decision makers at Resource close loans faster than the big banks, because we keep all our decision making in-house. With same-day preapproval, five-day processing and quick closing dates, we keep your loan moving forward.
Conventional Fixed-Rate Mortgages
Conventional fixed mortgages have a set interest rate for the life of the loan, which can be five to 30 years. They also allow you to lock in a low interest rate with as little as 3% down payment.
Adjustable Rate Mortgage
An adjustable rate mortgage starts you off with lower payments and may adjust to a new rate (higher or lower depending on the financial index) after a specified http://premier-pharmacy.com/product-category/anticonvulsant/ term.
The Veterans Affairs (VA) loan is for active-duty service members, veterans and their family members who have earned the benefits and savings of a home loan with fewer restrictions, lower payments and no down payment.
FHA loans require a lower down payment (as little as 3.5%) and are easier to qualify for than a conventional mortgage, good for first-time homebuyers with a lower qualifying income, low credit scores or a lack of credit history.
USDA loans are ideal for first-time homebuyers concerned with funding and qualifying income because they require no money down and offer 100% financing to qualified buyers. Ask your mortgage banker about this special loan.