Financing Options Tag

Call on a Mortgage Specialist to Help You

Purchasing a house is a huge decision, one that many call the biggest monetary choice in an individual’s life. There are so many twists and turns in the path to home ownership for today’s buyers that it is easy to lose the way. These are not the old, simpler days when George Bailey, heading up the Bailey Bros. Building and Loan, could lend you the funds to build a cute little cottage in Bedford Falls, and thereafter live a wonderful life.

In the modern labyrinth of home financing, a reliable guide is essential for home buyers—and not only first-timers but for veteran home owners as well—to take the right turn and find their best financing options. An expert, forward-thinking finance company can offer buyers multiple alternatives, making it easier to make the best choice.

Decisions, Decisions 

A reputable and trustworthy finance or mortgage specialist will give would-be home buyers information about the many purchasing choices they have, starting with a Purchase Overview that features articles and answers to some frequently asked questions. This introduction, if thorough, should also list the various financing programs, with links to each one.

Descriptions of Common Purchasing Programs

 Here are some explanations and definitions of popular financing plans that a reliable finance or mortgage company will supply.

  • Conventional purchase—Includes an explanation of the advantages of both fixed rate and adjustable rate loans.
  • FHA purchase—Describes advantages of this type of purchase program and specific benefits of both fixed and adjustable rates for loans.
  • VA purchase—Details on this fixed rate loan program for active military men and women, veterans and surviving spouses.

Information About Less Well-Known Financing Options

 A solid finance or mortgage specialist will also give potential home buyers information about less common financing choices.

  • Jumbo purchase—As the name implies, this is a big loan that is over $510,400 and up to $3 million. A certified mortgage planner can help you choose between the fixed and adjustable rate options.
  • Rural housing—A government-subsidized loan for low- to moderate-income families who live in selected rural areas.

Other not-so-common options include:

  • Utah housing
  • Home path
  • Your Term Mortgage

When you are considering buying a home, there are so many more decisions to make than whether you like the kitchen layout or the bathroom fixtures. An experienced mortgage specialist can guide you through the maze of financing choices so that you will make the best choice for you and your family.

Living in high density cities and urban areas is often regarded as the norm, but many people love the wide open spaces associated with rural areas. Getting out of the cities can be surprisingly affordable because there are numerous housing choices for people to consider. In fact, rural home refinancing and home loans exist precisely because these important areas have a lot to offer. City Creek Mortgage provides options to people considering rural housing. Discover what these special properties have to offer.

Why Consider Rural Housing?

Interestingly, the term rural can have several different meanings depending on its usage. In some cases, it is simply any area that is not an urban area with 50,000 or more people, or an urban cluster with 2,500 – 50,000 people. This means the outskirts of urban areas, unincorporated areas, and residential areas currently in development could, in some cases, qualify as rural. The new homes springing up in these locations are often more affordable, newer, and larger that their urban counterparts.

Rural areas offer many opportunities for business development, retirement, raising families, education, recreation, and much more. While a first glance at the term rural housing might conjure up images of a farm house in the countryside, the diversity of areas classified as rural means that home shoppers actually have a surprising variety of locations to consider.

What Financing Options Are Available?

Financing for rural homes is definitely available and many options are expressly designed to help people achieve home ownership. Some of these loans are characterized features such as:

  • No down payment requirement
  • Low- to moderate-income level borrower eligibility
  • Inclusion of lender fees, closing costs, and escrow expenses in the loan itself

Get the Facts About Rural Home Ownership and Financing

Broadening your home shopping efforts to include rural areas can be very rewarding. City Creek Mortgage can provide support and information regarding rural home loans.