Finance a home
There's no place like home to put your feet up and relax. Whether you rent today, want to downsize from your current home, buy a larger one or refinance the one you have, below are some helpful tips.
BENEFITS OF OWNING A HOME
Owning a home has many financial benefits. Although homeowners are faced with additional expenses and private mortgage insurance premiums, mortgage interest and property taxes are tax deductible and can save you money in the long run. Owning a home also allows you to put value back into your home and build home equity.
With a strong financial history and proper planning, owning a home can be an affordable and worthwhile investment.
RENT OR OWN
Whether you should rent or own greatly depends on your local housing market, financial standing and length of residency. Whereas rent is an out-of-pocket expense, monthly mortgage payments gradually reduce your remaining loan balance. That means with each payment, you will own more of your home, eventually having no payments at all.
As a homeowner, you can make all the decisions and know where your money goes. As you decide whether to rent or own, keep in mind that rent prices can increase without your consent, reflecting rising demand and renovation costs. Additionally, mortgage payments can be less expensive than rent payments over time, even with a fluctuation in interest rates.
There are many ways to finance your first or next home. From fixed interest loans to adjustable rate mortgage loans, the mortgage options available to homeowners are vast. To simplify your mortgage search, we will help you assess your financial needs and goals to help you save money and live comfortably. Take a look at our mortgage programs to get an idea of the best mortgage options for you before beginning the mortgage application process.Read More
MORTGAGE APPLICATION PROCESS
To make sure purchasing a home is the right investment for you, we will walk you through the entire mortgage application process until your closing date and help lead you to the home of your dreams.
At imortgage, we will:
- Connect you with a local imortgage representative to discuss your short-term and long-term financial goals
- Reveal the best mortgage loan options to fit your financial needs
- Make sure you are an informed customer who has collected the required documentation necessary to complete your mortgage application
- Walk you through your customized mortgage application by phone or online, helping your purchase the home you’ve always wanted...simple as that.®
FIRST TIME HOMEBUYERS
As the housing market has evolved, so has the purchasing process for first time homebuyers. From loan consultants and online resources to community members and real estate agents, first time homebuyers must do their homework in order to make the most of their investment.
Use our site as a guide for mortgage information to simplify your first home buying experience.
HOME BUYING PROCESS
There are only a few steps to the loan process:
- The loan application where we collect necessary information to obtain loan approval
- Processing the loan where we verify the documentation for the loan
- Underwriting the loan where we confirm credit and income and assign conditions to the loan
- Document Draw for the loan where we prepare the loan documents for escrow
- Closing and funding the loan