Buy a Home
Before you begin the process of selecting a loan type, you must first identify what type of buyer you are. See the following scenarios to see where you fit!
1st Time Home Buyer
Being a first-time home buyer can be an exciting time in your life. Here is the loan process in order to help you prepare for your new home purchase.
1. Application: The first step towards being a first-time home buyer is getting your home loan application underway. A great first-time home buyer tip at this stage is to make sure you have your basic personal and financial information at hand when beginning your home loan application. Your credit score, current employment status, debt and long-term financial goals will all be collected and discussed at this point in the mortgage process.
2. Pre-Approval: Not to be mistaken with a pre-qualification, a home loan pre-approval is a mortgage company’s commitment to issue a home loan for a specific property. This will be based off of your employment, credit and debt information.
3. Processing: This stage in the mortgage process will involve various documents, so please make sure you are prepared and as organized as possible coming into this step for the smoothest and quickest experience. While you may provide documents to your home loan expert at the beginning of mortgage processing, you may also be asked for additional information throughout any time during this stage, depending on your home loan type and financial situation.
4. Underwriting: During this mortgage process stage, someone known as an “underwriter” will review your application to make sure that your home and property are in good condition and that you’ll be able to repay your home loan.
5. Closing: You, the sellers, your home loan expert and possibly your attorney will decide on a date to close on. At closing, you’ll sign many documents, which include your mortgage note and HUD-1 Settlement Statement. Once complete, you’ll be handed your keys and will have successfully become a homeowner!
Buying a Second Home
Dreaming of a vacation home down on a beach? Or maybe a dream home in the mountains? Or maybe you just want to buy a new home for your child? Whatever the case may be for buying a second home, we at WinPrime have the right home loan to meet your needs!
Wondering how a second home could affect your finances? With our mortgage calculator, you can figure out just how much home you can afford before even starting the house searching process. Getting your finances in order is crucial when planning to purchase a second home.
Next, make sure sellers know you’re serious about buying their home by getting a pre-approval from us. Contact your home loan expert and get your paperwork started today.
Moving & Buying a Home
No matter where life takes you – WinPrime knows the importance of making your new house feel like a home, Quick! While exciting, moving into a new home can be stressful, and we at WinPrime want to help make moving be fun and easy!
At WinPrime, we’re the Home Loan Experts and we offer personalized home loan solution that fit your needs and lifestyle. And with our continual investment in technology and employee training, we’ve simplified the entire mortgage process to make it easier for our customers – from application to closing.
Buying an Investment Property
Like you, we know how much a small increase in your available interest rate can influence how much money you make on your investment property. We were founded on the idea of providing low rates and great customer service. To prove it, we post our interest rates against our competitors online. We’re here to help you achieve your real estate investment goals with low rate mortgages.
WinPrime has a variety of loan programs available with features, terms and benefits to meet our customers’ specific needs.
30-Year Fixed Rate Mortgage
Settle down for the long haul with a 30-year fixed rate mortgage. Because of the steady interest rate inherent to a conventional 30-year fixed rate mortgage, you can look forward to consistent monthly payments for many years to come, providing you with peace of mind and a consistent budget. We recommend this type of home loan if you’re planning to stay in your home for a minimum of 5-10 years.
15-Year Fixed Rate Mortgage
Pay off your home twice as fast with a 15-year fixed rate mortgage. Your rate stays the same throughout the life of the loan, giving you secure and predictable monthly mortgage payments and less interest on your loan. Get on the fast track to amortization with this loan option.
Adjustable Rate Mortgage
Keep your options open with an Adjustable Rate Mortgage (ARM). This type of home loan features an interest rate that changes after a fixed amount of time. ARMs are a great home-buying option and typically offer lower interest rates than fixed mortgages and extra protection with rate caps.
Move into your forever home with a jumbo loan. Need a loan that exceeds the current conforming limit? A fixed or adjustable jumbo mortgage can help you make your move. This type of home loan will allow you to buy a lot of real estate but also requires more stringent credit guidelines and a larger down payment.
Make your home ownership dreams come true with an FHA loan. Featuring flexible credit restrictions and down payment options as low as 3.5%, an FHA loan is a popular type of loan for first-time home buyers.
VA Home Loan
Enjoy exclusive military benefits with a VA loan. If you are a veteran or an active-duty service member, a VA loan offers less restrictive credit guidelines and low down payment options for you and your family.
Interest Only Mortgage
Free up your cash flow with an interest only mortgage. Take advantage of the low monthly payments right off the bat to afford a more expensive home and invest your income elsewhere.
For homeowners over the age of 62 who want to use the equity in their home to meet their financial goals.