Academy Mortgage Inc.

Steps to Take Before Getting a Home Loan

3 steps to take before applying for a home loan

1. Get your credit in shape.
2. Organize your documents.
3. Check your budget.

Taking care of these items will not only help you move through the mortgage process more efficiently, it will also ensure that you are eligible for the best rates and programs available.

Finance up to 96.50% of the purchase price
Minimum 3 1/2% down payment
Down payment can be a gift from a family member
Seller can pay up to 3% of closing costs

Finance up to 95% of the purchase price
Higher credit scores required
Seller can pay up to 3% of closing costs with 5% down payment
Seller can pay up to 6% of closing costs with 10% down payment
Seller can pay up to 9% of closing costs with 25% down payment
Program is best suited for borrower with a 20% down payment