When choosing a home loan, you may feel overwhelmed… Should you choose a 7/1 ARM or get a fixed rate FHA loan, or what about a conforming Conventional loan, is that better?
These are just some of the questions that may be starting to pile up in your mind as you consider buying a house. Some of these terms may even be completely foreign to you. In any case, the best and safest decision is to talk to a seasoned and experienced Loan Originator. At Wallick & Volk we strive to focus on finding the best loan scenario for home buyers like you.
We need to consider your income, lifestyle and credit standings. By evaluating your short term and long term financial goals, we will be able to determine which loan product and program will work best for your unique situation.
Additionally, after reviewing your down payment, income, credit score, and debts, we will have a better idea of what you will qualify for. Additionally, many people have some credit ‘baggage’ that may prevent them from qualifying for the best loan program. We can review your situation and provide you with a ‘Road map’ of actions you can take to improve your credit standing and get better loan terms.
No matter how you go about getting your loan, here are a few things to consider or ask your mortgage professional:
When choosing a mortgage, it’s important to not get in over your head. Generally, your mortgage payment should not be more than 25-30% of your monthly salary. It is also important to include property taxes, homeowners hazard insurance, HOA dues (if applicable), and mortgage insurance (if required).
There are many loan programs available today. Just because you don’t have ideal credit or enough money for a down payment, does not mean you can’t buy a home. Even if you have talked to another lender, you owe it to yourself to reach out to one of our experienced loan originators. As Mortgage Bankers, we have more options to offer than even a bank can provide.
Again, we are always here to help. Please reach out should you have any questions.
222 East 18th Street
Cheyenne, WY 82001
Phone: 800-280-8655
Direct: 307-634-5941
Toll Free: 800-280-8655
Fax: 307-632-1015
NOTICE: This is not a commitment to lend or extend credit. Restrictions may apply. Information and/or data is subject to change without notice. All loans are subject to credit approval. Not all loans or products are available in all states.
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