Mortgage Approval

Buying your new home requires careful planning and research. After all, the right home for you is ultimately the one that meets your needs and that you can afford. Start by setting a realistic budget. Determining up front what you can afford will help narrow your search process when it comes to choosing the size of your new home and the neighborhood. A basic rule of thumb that many lenders use is that your monthly housing costs (mortgage, principal & interest, utility costs and property taxes, should not exceed 32%.

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Freedom Mortgages Group can help you determine how much financing you qualify for and can explain the variety of financing options available in today's market. For example, many first time home buyers are surprised to learn that they can now finance up to 100% of the purchase price of their new home. We advise home buyers to consider getting their mortgage pre-approved by Freedom Mortgages Group so that they can shop the market with confidence. You'll save a lot of time and eliminate a major source of stress if you begin the process with firm financing in hand. In addition, the rate you're quoted can be guaranteed for up to 90-120 days, so if the rates increase during this time, you are protected.

Be prepared to supply Freedom Mortgages Group with some personal information such as the source and amount of your down payment, employment details, proof of income, monthly expenses, and current debts and assets. In addition, to the purchase price of your home, your closing costs will likely include:

    ● Home Inspection Fee
    ● Legal Fees
    ● Closing or Adjustment Costs
    ● Property Insurance Premium
    ● Mortgage Insurance

Planning well in advance and taking the time to research your financing options are equally as important as finding that perfect home.