Financing Considerations

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There are many mortgage programs available out there; lenders typically ask you a few questions about your income, debt, and credit score to prequalify you for a loan.  They should give you an estimate of how expensive a home you will qualify for (so we will know the upper limit to shop for), what your monthly payment will be, and as the amount of cash you will need to have available at closing to purchase a home at a particular price point.

They will give you a prequalification letter to be included with the offer that you make on a house so the Seller will know before they take that house off the market that you will be able to obtain financing. There are many different loan structures available so you will probably want to talk to several to find a lender that you are comfortable with.  

Here are some suggestions that you may want to consider:

Banks and Credit Unions

Rebates

First Time Homebuyer Programs

Reverse Mortgage for Buyers over 62