Buyers

Whether you are looking for your first home or you buy and sell regularly Rob has the experience to advise you in any situation.

Click here if you are serious about starting the process of buying a new home!

Click here to receive home listings by email if you want Rob to send you information on properties that are in your price range and market area. This is a great way to get a sense of the market and what you can get for your money.

How much home can you afford? The best way to know how a mortgage payment will fit in your budget is to speak with one of the Lending Professionals listed below.

Here are examples of some of the programs that your lender may discuss with you:

Loans With Little Or No Money Down
Coming up with the necessary down payment for a home loan can be a big hurdle for many would-be home buyers. Fortunately, there are options available including loans that require no money down. These loans generally carry a higher interest rate, but even so, these loans can be very affordable when you factor in today's overall rates.
No Income Verification Loans
For self-employed buyers and others who have a difficult time documenting income history, this loan may be for you. Programs exist for up to 90% financing. These loans carry a slightly higher interest rate, but generally speaking, the more information you can document, the lower the interest rate. There are certain liquidity requirements typically associated with this type of program. Even so, it is one of the easiest programs for many buyers today!

FHA and VA Loans
The Federal Housing Administration (FHA), offers loans for low-to-moderate-income home buyers. FHA loans have low down payments, which typically run around 3 percent, and have relatively easy requirements. FHA mortgages have no income restrictions and even those with lower credit scores may be considered. Past bankruptcy does not necessarily disqualify borrowers from using this program!

In addition, the Department of Veterans Affairs (VA) offers a zero-down mortgage program. To take advantage of this program, borrowers need to be among those listed as veterans and service personnel in the U.S. military. One of the biggest benefits of this program is that it eliminates the need for private mortgage insurance!

Adjustable Rate Loans
With a fixed-rate mortgage, the interest rate stays the same for the life of the loan. But with an Adjustable Rate Mortgage (ARM), the interest rate changes periodically, and is typically tied to an index, and payments go up or down accordingly. Generally speaking, lenders charge a lower initial interest rate for the ARM than for the fixed rate mortgage. If you are expecting interest rates to decrease in the future, or if you are trying to maximize your purchase power today knowing your income will rise in the future, then this loan may be right for you. Also used when you only expect to be in the home a short time.

For detailed information regarding the loan program that will work best for you contact one of the following Lenders:

Chad Gray
Spruce Mortgage
chad@sprucemortgage.com
802-652-0167

Lorene Butler
CountryWide Home Loans
Lorene_butler@countrywide.com
802-373-8308

Mark Erickson
National City Mortgage
Mark.Erickson@NCMC.com
802-879-4424 ext. 225