If you’re new to the homebuying process, chances are you’re wondering what the term “government backed mortgage” really means. A government backed mortgage is not a guarantee that you will be approved just because the federal government is backing the loan.
Finding the Right Loan for Your Specific Needs
You’ve made the decision to purchase a new home. Congratulations! Buying a home is one of the biggest purchases of one’s life. And with purchasing a home usually comes purchasing a mortgage. But don’t worry; we’re here to help walk you through the entire process.
Start the Home Loan Process Today with the Jet Direct Mobile App
We’re committed to making the home loan application process as easy as possible. To that end, we have developed our very own mobile app, Jet Direct Mobile.
- Calculate mortgage options
- Apply for a loan
- Scan your documents
- Track your loan progress
If you’re planning to purchase a home, it’s recommended that you get a pre-approval first. A pre-approval is a backing from a lender that proves you are qualified to borrow X amount of money at a specified interest rate.
If you need to take out a loan, you’re going to have to pay back that loan with interest. Interest is paid in exchange for the convenience of borrowing money. It’s sort of like the price on borrowing money...
Having a great credit score will provide you with better mortgage options, but what happens after you acquire a mortgage? How does a mortgage affect your credit score?
Although a 20% down payment is recommended, it’s not necessarily required. There are options to put down much less, but it may not necessarily be the best decision for you.
While it might be tempting to cut corners to save a few bucks, one step you should never skip is a home inspection.
One of the most common confusions in the home buying process is the difference between private mortgage insurance and mortgage insurance premium. So what's the difference?
There’s a reason homebuyers are always hearing that they should get pre-approved before shopping for a home, and yet, many buyers still choose not to get a pre-approval.
When you are ready to buy a home, whether for the first time or the tenth, it is always important to know how much you can afford to spend. This will help...
With today's real estate market, saving up for a down payment can be quite daunting. Ask your loan officer if you qualify for down payment assistance.