Financing Options
If you plan to buy a home and will need financing, this is the FIRST place to start! You'll need to find out how much home you can afford and decide which type of financing is right for you. Even if you find your DREAM home, you can't submit an offer until you are pre-qualified for the purchase. Talk with a trusted lender to discuss the amount of money you'll need for your down payment and estimated closing costs, and to receive a "good faith estimate" indicating how much your mortgage payment should be, given your current financial status.
If you need a referral to a lender, Ravenswood Realty can recommend several qualified lenders to you.
Best Loan if you want to... |
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| Purchase Loan Type | First Time Homebuyer | Moving to Another Home | Buying a Vacation or Second Home |
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Fixed-Rate Mortgage A traditional fixed-rate mortgage for homeowners who are looking to refinance and get payment security. |
x | x | x |
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FHA Refinance up to 97.5% of your home's value. Cash-out refinancing up to 85%. |
x | x | |
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Jumbo Loans Lower mortgage rates for loans up to $2 million. 15-year, 30-year, FHA and ARM jumbo loans available. |
x | x | |
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VA Loan Refinance or get cash out of your home up to 90% of your home's value. Flexible credit and income requirements make this a top Military benefit! |
x | x | |