For many Americans purchasing their first home is the biggest purchase of their lives. Navigating the perils of a first time home purchase and Maine home financing can be made easier with just a little planning.
The first step is to review your financial records. Check with the various credit reporting agencies to ensure the information on file is up to date and doesn’t include any false information. Securing this simple process early will prevent problems later. Most inaccuracies are rarely ever solved overnight so make sure time is on your side.
The next step is to decide how much you can afford. One quick way to address this is by getting pre-qualified for home financing. By taking this step you’re not only discovering how much you can afford before you actually start looking for your dream home but ensuring you to move quickly if and when you find the right house.
Shopping for the right type of mortgage is also an essential part of a successful home purchase. Currently, the most popular is the fixed-rate mortgage in which the interest rate stays the same for the term of the mortgage. An Adjustable Rate Mortgage (ARM) features an initially lower interest rate and monthly payment, but the rate and payment can change either up or down, as often as once or twice a year.
Finding out even more about your financial options is as easy as surfing the Web. Do a little research and you can save time and money.
Our featured Maine Home Financing partners:
With interest rates at all-time lows, there has never been a better time to refinance.
Take advantage of getting additional cash out to improve your home, buy a new car, or pay for a child’s education. GuideToLenders.com will provide you with competitive loan quotes from up to four lenders. Different types of refinance loans offered are 30-year fixed, 15-year fixed, adjustable rate, and interest only. You’ll receive the best rates and options available, regardless of your credit. It takes less than a minute to apply, and you have nothing to lose. Find your refinance loan right now.
MoneyNest can help you search through hundreds of lenders and to find the most competitive rates. Get loans for mortgage refinancing, second mortgages, a home equity line of credit, home improvement, or debt consolidation. No fees are required and all credit histories are considered. Fill out a single application and get up to 4 FREE quotes.
Countrywide Home Loans
Qualified homeowners – even those with less-than-perfect credit – may now access their home’s equity to get cash, consolidate debts, and lower monthly expenses. Countrywide Home Loans may also help applicants who are self-employed or have high consumer debt. We offer competitively priced home loan programs, including fixed rate, adjustable rate, refinance and home equity loans.
DebtWave Credit Counseling, Inc.
DebtWave Credit Counseling, Inc. offers a program to its clients that enables them to repay their debt in a timely fashion. We specialize in working primarily credit cards; however, we are usually able to assist clients with any bills that are considered to be unsecured. Below is a list of benefits that we are typically able to obtain for our clients:
– Reduce your interest rates
– Lower your monthly payment
– Consolidate into one monthly payment
– Eliminate late & overlimit fees
– Stop harassing phone calls (if behind)
Our featured partner for Investment Assistance:
The advantage of having an easy-to-follow, step-by-step investing process with easy-to-use Web-based tools is that you rely on facts to make decisions – not emotions. The benefits are less stress, better results and, dare we say it, fun.