Name

Name

Jason H. Phelps

Personal details

Location

Rio Grande City, TX

Web

https://www.archcapitalva.com/

Short Bio

You should have a work history to get a home mortgage. A majority of lenders will require two years of solid work history is important to mortgage lenders. Switching jobs too often can cause your application to get denied. You never want to quit your job during the application process. There are several good government programs for first-time home buyers. You might want to hire a consultant to help guide you with the mortgage process. A home loan consultant can help you navigate the process.They can also make sure that you're getting a fair deal from everyone involved in the process. Make extra payments if you can with a 30 year term mortgage.Additional payments will be applied directly to the principal balance. This should have all the fees and closing costs as well as whatever fees you are responsible for. Most companies are happy to share this information with you; however, a few may conceal charges that you will not be aware of until it is too late. Ask around for information on obtaining a home mortgages. Chances are you'll be able to give you advice on what to look out for. You may be able to benefit from negative experiences with the advice you get. The interest rate will have an impact on how much you eventually pay for the home. Know about the rates and how they will change your loan. You might end up spending more than you want to if you are not careful with interest rates. Determine what sort of mortgage you need. There are all different kinds of home loans. Knowing about these different loan types can help you make the best decision for you. Speak to your financial institution about the different types of mortgage programs that are available to you. Balloon mortgages are among the easier to obtain. This is a short-term loan option, and the balance owed on the mortgage needs to be refinanced when the term of the loan expires. This is a risky due to possible increases in rates can change or detrimental changes to your financial health. Many times a broker is able to find a mortgage that fit your circumstances better than these traditional lender can. They are connected with various lenders and will be able to help you choose wisely. Learn all about the typical costs and fees that are associated with your mortgage. There are quite a lot of things that can go wrong when you're trying to close out on a home. It can feel overwhelmed and stressed. When you do some work and know the language, you might even be able to negotiate them away. Avoid a home mortgage that have variable interest rate. The payments on these mortgages can increase substantially if economic changes cause the interest rate. You could possibly lose your home if you can afford it. If you have less than stellar credit, save a lot towards a down payment. It is common for people to save between three and five percent, you'll want to have about 20 percent saved as a way to better your chances of loan approval.

History

Member for

7 years 10 months