Home Purchase Loans, 30-Year Fixed Rates as low as 5.75%
If you are sick of making your landlord mortgage payment each month and you believe it is time that your housing payments went towards building your own equity, then contact Smart Home Mortgage Loans immediately. We help first time home buyers finally begin to create their own wealth, and it can be one of the most exciting and rewarding life experiences and you should make sure that yours is the best one possible! At Smart Home Mortgage Loans, we want to help bridge the gap from renting to financing a home.
The home buying process doesn't have to be a frightening experience if you are informed throughout each step, and we are here to help each step along the way. We will make sure that you find a good mortgage rate and that you feel comfortable with your loan program. Being a first time home buyer is easier than ever! Visit one our preferred mortgage company, to get more information about government home refinancing and FHA home loans.
At Smart Home Mortgage Loans, our first priority is to help our customers find the right loan program for their individual needs. We are dedicated to making sure that first time home buyers have as easy and enjoyable an experience as possible. Let us help you realize your housing dreams now, and be on the way to financial freedom!
Young Buyers Exert Influence on Housing Market
The motivations, interests, and home buying approach of some younger buyers are chronicled in "Tomorrow's Buyers: Who They Are and What They Want," a report in the September issue of REALTOR® Magazine. The article puts a human face on statistical trends, integrating NAR research with the experiences and attitudes of real-life buyers who represent different demographic groups.
The percentage of first-time home buyers under age 25 has been increasing in response to historically low interest rates and continued confidence in the long-term housing market, from 11 percent in 2001 to 14 percent in 2005, according to the 2005 NAR Profile of Home Buyers and Sellers. "Owning a home is no more burdensome than renting, and in the long term, it's the better investment," said Kristen Carreira, a 26-year-old homeowner in Pittsburgh.
Carreira is also part of a trend in single female home buyers. While married couples are still the norm, they represent a smaller share of the home buying public than they did just 10 years ago, from 70 percent of home buyers in 1995 to 61 percent today, says NAR. During that same time, the proportion of single women buying homes has increased, from 14 percent in 1995 to 21 percent today.
Younger home buyers are also likely to use technology and the Internet in their home buying search. In 2005, according to NAR research, the median age of buyers who used the Internet to search for homes was 11 years younger than those who did not, at 38 and 49, respectively. "REALTORS® have adapted to meet the needs of this growing population," Stevens says. "A commitment to understanding the demands of this changing marketplace is just one more way REALTORS® add value to the real estate transaction." More than one-third of NAR's 1.3 million members have had special training and lots of experience in buyer representation and technology. That expertise is reflected in special designations and certifications, such as the Accredited Buyer Representative (ABR®) designation and e-PRO certification.
Typical Mortgage Terms
30-year Fixed Mortgage
Typical Refinance Terms
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Question: How do I apply for a VA guaranteed loan?
Answer: You can apply for a VA loan with any mortgage lender that participates in the VA home loan program. At some point, you will need to get a Certificate of Eligibility from VA to prove to the lender that you are eligible for a VA loan.
Question: Where a mortgage broker is used, is it the mortgage broker's responsibility to provide the Good Faith Estimate (GFE) to consumers, or is that the lender's responsibility?
Answer: If the mortgage broker is not an exclusive agent of the lender, the broker should provide a GFE within 3 days of receiving an application. The lender is not required to send an additional GFE; however, it is the lender's responsibility to ascertain that one was sent and includes an estimate of all costs that are likely to occur. Where the broker is the exclusive agent of the lender, either the broker or the lender shall provide the GFE.
Question: What Is Property Tax?
Answer: Property tax is a local tax that is imposed by local government taxing districts and is based on a property’s value. Property taxes are collected and spent at the local level and is a major source of tax revenue for local government taxing districts.
Question: Who Pays Property Taxes and Who Is Affected By Them?
Answer: Anyone that owns real property such as land, buildings, and permanent fixtures such as fences, landscaping, driveways, sewers, or drains
Question: What is Pre-qualification?
Answer: The process of determining how much money a prospective homebuyer will be eligible to borrow before a loan is applied for.
Question: What is a Pre-approval?
Answer: This allows you the ability to get approved for a specific loan amount prior to finding the home you want to purchase. The loan is underwritten and the lender commits to a specific loan amount. This can give you a great advantage with a homeowner or realtor if someone else is interested in the same home at the same time. Also, if you're thinking about refinancing and want to payoff creditors or take cash out, but not sure you would qualify – you can apply for a pre-approval and could save on the cost of getting an appraisal on your home until you know if you qualify.