The process involved with getting a loan for your new home is complicated. For a first-time home buyer, just trying to understand the differences between each type of loan gets confusing.
If you have bought a home before, then you are also likely to be surprised by just how much has changed, since the requirements to get a loan are constantly being updated.
The Jimmy Vercellino Team stays up-to-date on all the latest information, so that we can guide you each step of the way toward obtaining the best mortgage loan and help you meet your goals for home ownership.
There are several different types of Phoenix home loans that you can get, and they all have specific benefits and requirements that you need to understand.
For instance, an FHA loan typically requires a lower down payment than a conventional loan, which can make this type of loan ideal for a first-time home buyer.
VA loans offer benefits for military members and their families, yet they do have restrictions in place that limit the size of the loan that you can get.
We will help you sort through each one of your options to find the type of loan that works best with your financial and personal situation.
All mortgage lenders require you to submit important information to document your identity as well as your current financial status.
Veterans who are applying for Phoenix home loans will also need to submit additional information such as the Certificate of Eligibility (COE) form.
Our team understands that paperwork is one of those tedious necessities that generate stress for people applying for home loans, so we do everything we can to assist with this part of the process.
For instance, we can help you request the COE form, or send you a reminder to send in a pay stub, so that you don’t miss a critical step that delays your application decision.
While you may know some basic terminology regarding how Phoenix home loans work, it is also common to feel as though you’re in over your head once you start to discuss the actual loan with a lender.
For instance, you may not know what escrow is or if you need to pay private mortgage insurance. Professional loan officers know how to break down complicated terminology and mathematical figures so that it all makes sense.
At some point, you have probably heard of someone you know signing on a loan without fully understanding the terms.
One of our biggest goals is to make sure that you never get surprised by something, such as a prepayment penalty or interest rate increase.
We walk you through each part of your loan and are always willing to answer your questions – you can sign your new home loan agreement with confidence.
We believe that the excitement of buying your first home should never be overshadowed by the stress of applying for a loan. We are truly dedicated to ensuring the process of getting a mortgage loan is smooth sailing.