If you're planning to buy your next home, your first home, that dream home, a condo, vacation home, investment property or looking for home loans, you will find that this site is a complete resource full of insider secrets that will allow you to choose the Harrison Lending Group mortgage program best suited to your financial needs.
I make it fast and easy for all kinds of people-including first-time home buyers, small business owners, and home buyers with perfect or less-than-perfect credit to get the home loan you need for the home you want.
EMPLOYMENT & MORTGAGES
Part of the mortgage process includes verifying income. You must be able to show that you can afford the home loan payments, regardless of the type of home loan program. If you do not have a job or any other way to financially support a mortgage, consider holding off applying for a home loan until you can verify employment and income. If you can prove steady, reliable income – go ahead and apply to pre-qualify for a loan!
You can switch mortgage lenders at any time - even if you’ve been with your current company for years or if you’re in the midst of refinancing. We’ve met several who are tired of the runaround of the ‘big banks’ and want to switch to someone local and easy to work with. Until you’ve signed on the dotted line – there’s always a way out!
If you’re considering switching lenders, make sure to keep all of the documentation together – your new lender will need to see that. Also, if you’ve already had an appraisal performed, that is one fee that will need to be repeated and cannot be recovered.
HOME LOANS MADE SIMPLE
First time homebuyer? You’ve come to the right place!
Looking at real estate fliers and touring homes is easy. Applying for a home loan and figuring out how to pay for a house – well, that can get complicated. Let us guide you through understanding a home loan.
A HOME LOAN IS CALLED MORTGAGE
Buying a house is one of the largest investments most people make. Home loan programs are available to those who need to borrow the money and buy a house (which is almost everyone.) The money borrowed and the payment due each month is called a mortgage.
HOME LOAN OPTIONS ARE ALSO CALLED PROGRAMS
You have choices when it comes to a home loan. Some buyers have more choices than others depending on how much money you make, where the home is located, how much money you have to spend right away and your credit score. There are many options when it comes to home loans and several programs available. Some of them include:
Conventional loans (also known as regular loans)
The best step to determine the right home loan program for you is to call a local mortgage lender you trust. The lender can explain the difference in each program and help you decide which one is best for you.
LEARN THE NUMBERS
There are many “numbers” involved in a home loan process. When you apply for a loan, you will have a unique set of figures for you. Here are some numbers that will be figured up into your home loan:
Purchase price of the home
What you’re offering to pay for the house you want to buy.
The money you have available to buy the house when you apply for your loan.
Usually a percentage and based off of your credit score. This percentage figures up how much money in interest you will pay during the life of your loan.
The term of your loan
Typical terms are 15, 20 or 30 years – meaning how long it will take to pay back the loan.
Monthly payment amount
This is what your mortgage bill will show each month.
HOME LOANS AREN'T FREE - But it doesn't cost to apply
It’s FREE to pre-qualify and apply for a home loan. But there are some fees involved when you borrow money to buy a house. Closing costs will apply before your loan is closed. Also, you will be charged interest on your loan – this works just like any other loan from the bank – interest for borrowing the money will be part of your mortgage payment.
THERE ARE TAX BENEFITS TO HOME LOANS
Although home loans do not come free, the government lets you write-off what you pay in interest on your Federal income tax return. Also, if you pay mortgage insurance (MI), you may also write-off this amount.