First Time Buyers
Buying a home is a huge step but it has never been a better time to make that leap. Often, the monthly expense of owning your home is not very different from the cost of renting.
GMFS makes the transition from renting to owning simple. GMFS can show you how to get superior rates based on your credit. We'll also show you how you can get approval in one phone call and close your loan in as little as two weeks!
One of your first steps in buying a home is to determine how much you want to spend. Next, you will want to find a lender and get pre-qualified for a loan. Lenders look at your employment and credit score, as well as the value of the house you want to buy, to determine the amount you can borrow. Lenders can tell you the amount you can qualify for and pre-qualify you as a borrower. This lets sellers know you will be able to get financing and improves your negotiating position.
Down payment
To purchase a home, you may need a down payment. This is money you pay in order to buy the house and decrease the amount you need to borrow. Most loans require you to pay between 10 and 20% of the purchase price as a down payment.
Pull together all your documents.
Lenders will ask for w-2 statements, tax returns and other documentation. If you don't have that kind of documentation, don't worry. Explain your situation to your mortgage consultant because there may be other options available for you.
Find a lender who will work with you regardless of your situation.
GMFS offers loans to fit a variety of situations. GMFS can help you find the right loan to fit your needs.
In one phone call, we can let you know if you pre-qualify for a loan and let you know what types of loans and interest rates are available to you.
