Securing financing is the first step on your road to home ownership. Banks, credit unions, and other lending institutions offer various mortgage options for you to choose from. Federal Housing Authority loans, Veterans Affairs loans, Conventional Fixed-Rate loans, and Adjustable-Rate Mortgages are popular options that can be tailored to fit your unique situation.
The Mortgage Rates
Mortgage rates fluctuate based on market conditions and your personal credit score. The difference between fixed or adjustable rate mortgages lies in whether or not the interest rate will change over time. With fixed-rate mortgages, your monthly payment will remain the same throughout the term of your loan. On the other hand, adjustable-rate mortgages start with a lower rate but can increase over time depending on market conditions.
Parkside Builders have established relationships with many financial lenders, which enables us to negotiate competitive interest rates for our clients. Ask us about our preferred lender and title company and how to get an interest rate of about 5%!
The Mortgage Process
The mortgage process for a Parkside Builders’ home involves several significant steps. To kick-start your mortgage application process:
- Pre-approval: Speak to a lender and get pre-approved for a loan. This requires verifying your income, employment history, credit score, and assets. Obtaining a pre-approval letter from a lender helps when making an offer on a house because it shows sellers you have available financing.
- Loan Application: Once you have selected your preferred Parkside Builders’ home, fill out an application for the mortgage loan detailing your financial information.
- Appraisal: The chosen lender will arrange for an appraisal of the property to ensure its value meets the loan amount.
- Final Approval: After verifying your information and an appraisal, the lender will complete a final review of your application.
- Closing: Once the loan is approved, legal documents are signed to transfer ownership from the seller to you officially. Congratulations! You are now a homeowner.
Final Thoughts
We believe in making financing simple and stress-free for our clients. With Parkside Builders, we will hold your hand throughout every step of the home-buying journey. We make navigating lenders easy and simple, ensuring you feel secure and comfortable as you embark on this exciting journey towards homeownership.
Invest in a Parkside Builders’ Home today, and start your life’s new chapter in a home that matches your lifestyle, budget, and dreams. Our team is available to answer all your financing queries and guide you through our array of home options.
Contact
Nashville Office
Chattanooga Office
Mailing Address
PO Box 1026
Gallatin, TN 37066
Phone Number
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The information contained herein is preliminary in nature and though deemed reliable is not guaranteed. Prices, features, locations and other content is subject to change without notice. Square footages are estimates. Models do not reflect racial preference.