3 Key Factors for Buying a Home

1. Income

If you have a steady source of income, you’re off to a great start. Buying a home isn’t much more complicated than paying your rent on time each month. Use our mortgage calculator Mortgage Calculator to estimate your monthly payment.

2. Assets

If you think you’re out of luck because you don’t have tons of cash on hand, don’t worry. You have more options than the traditional 20% down payment. Many programs will work with 5%, 3.5%, or in some cases even 0% down. Also, closing costs can sometimes be paid by lenders or sellers, or with money from gifts or grants. Chances are good there is a solution that will work for you.

3. Credit

If your credit isn’t the best, don’t start panicking. There are plenty of loan programs available that don’t conform to the same regulations as most traditional loans. We will work with you to find a more flexible, specialized mortgage program that works for your unique situation.

That’s all there is to it! These three items are the fundamentals of mortgage lending. There will always be exceptions, but don’t be scared into thinking the process is impossible.

If you have questions about the 3 Key Factors, your Envoy loan officer will be happy to answer them.