What it Takes to Buy a Home

Buying a home has long been considered a cornerstone of the American dream. Whether it’s your first, or one of many, getting a home loan to purchase a home is one of the most significant financial decisions you’ll make in your life. Many people decide to buy because of the benefits associated with home ownership.

If you want to make that first step toward home ownership, there are several ways to obtain a home loan. It may take time to understand the different home loans and which one is right for your financial situation; that’s why it’s important to work with a licensed loan professional who can walk you through your various options.

Buying a home is a big decision. For many buyers, the experience can be stressful. Teaming up with a Real Estate Agent and Fresh Start Financial Originator will make the process much easier so you can enjoy the fun part.

Ready to buy? Here's how to get started.

  • Step 1 - Make a list of the top-five most important things you’re looking for in a home. Your list might include things like price, distance to work, school rankings, number of bedrooms, and a nice, big yard for your dog.
  • Step 2 - Talk with a Mortgage Loan Originator to find out how much you qualify for so you can confidently shop for homes in your price range.
  • Step 3 - Choose a Real Estate Agent to help with your home search. Provide the Agent your list from step 1, so they can find homes that fit your needs.

Down Payment Options

The down payment is the part of the purchase price the buyer pays in cash and does not finance with a mortgage. Down payments are a percentage of the home’s selling price. For example, a 20% down payment on a $100,000 home is $20,000. Placing down payments helps protect buyers in a fluctuating housing market, creates equity, improves your credit score, and often lowers your interest rate. A down payment also shows lenders that you are serious about the purchase. As an added bonus, whatever you put down is money you won’t be paying interest on.

Standard Requirements
The type of mortgage determines the minimum down payment needed, usually ranging from 0% to 20%. Your Mortgage Loan Originator will let you know what down payment percentage is required of you and how much you should put down in order to save the most money in the long run.

Options for Veterans
Veterans Administration loans (VA loans) are designed to help Veterans obtain financing at very reasonable rates and offer financing up to 100% of the home’s value.¹ This means that a qualified Veteran, spouse or active-duty military member could buy without having to make a down payment.

Government Loan Options
The Federal Housing Administration (FHA) was created to help middle- to lower-income buyers secure home loans. The FHA doesn’t actually lend the money; instead, it insures the loan. The FHA requires down payments as low as 3.5% and accepts a wide range of credit scores.

¹100% financing available on primary residences up to county loan limits.

Why Homebuyers Are Choosing Fresh Start Financial?

Buying a home is supposed to be one of the most exciting moments in our lives! Don’t let a lender’s inability to close your purchase on time turn your excitement into anxiety. At Fresh Start Financial we guarantee* that you’ll close your home purchase on time! After all, you should be able to plan your move in date weeks ahead of time and not be worried about the consequences of not meeting the closing date on your purchase agreement.

  • Our Closing Day Guarantee* allows you to plan weeks ahead and count on closing your purchase on time!
  • Our licensed mortgage bankers are trained to offer intelligent mortgage advice!
  • Our interest rates and closing costs are low so that you’ll save more money!
  • Our state-of-the-art technology is designed to save you time and keep your personal information safe!
  • Our mortgage process is quick and easy – you’ll typically close your loan in just 18-20 business days!
  • Our company culture is truly consumer focused and we guarantee your mortgage experience will be better than any other!

Contact us for details

Get Prequalified

Buying a home could be the biggest purchase you'll ever make. That's why getting prequalified by a trusted mortgage lender is so important. This way, you'll shop with more confidence knowing your purchase power, while also showing sellers that you're a serious buyer.