Mortgages

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Benefits to Homeownership!!!

If you're like most first-time home buyers, you've probably listened to friends', family's and coworkers' advice, many of whom are encouraging you to buy a home. However, you may still wonder if buying a home is the right thing to do.

Are you emotionally ready?

Owning a home is a huge commitment so before jumping in, consider if you are ready to make lots of decisions?

Are you confident enough to select a neighborhood where you’ll want to stay for a while?

And are you up for devoting the time and attention to maintaining a home?

Taking care of your biggest investment can be gratifying but only if you’re ready.

The more you know about why you should buy a home, the less scary the entire process will appear to you.

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Become
A Loan Originator

To be truly productive in the mortgage industry is, understanding that success is achieved by ones ability to develop relationships.

  • Accountability
  • Business Plan (to achieve great results)
  • Product discipline (knowledge)
  • Everything is measured (compliance)
  • The key to success is using our time with great efficiency that our actions are always enabling us to move closer to achieving our overall goals and objective.

    Pride of Ownership

    Pride of ownership “The American Dream” is the number one reason why people want to own their home. Home ownership gives you and your family a sense of stability and security. It's making an investment in your future.

    Financially are you ready to buy a home?

    Buying a house involves saving for a down payment and paying a monthly mortgage, which lasts anywhere from 5 to 30 years, depending on the home loan you can afford and are offered. There are, other costs as well. .

    Monthly mortgage payments:

    This is what you’ll pay each month. In most cases, a mortgage includes the loan principal and interest (both amortized over the life of the loan) plus homeowners insurance and property taxes (pro-rated). In some cases there are Home Owner Association fees to consider.

    Appreciation

    Beyond the dream and pride of home ownership, it's important to realize another benefit. First, real estate moves in cycles, sometimes up, sometimes down, yet over the years, real estate has consistently appreciated. The Office of Federal Housing Enterprise Oversight tracks the movements of single-family home values across the country.

    Mortgage Reduction Builds Equity

    Each month, part of your monthly payment is applied to the principal balance of your loan, which reduces your obligation. The way amortization works, the principal portion of your principal and interest payment increases slightly every month. It is lowest on your first payment and highest on your last payment.

    Freedom

    The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle. Many homeowners use their homes a part of their retirement plan.

    Stability

    Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.

    Tax benefits

    The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home.

    Choosing the Right Loan Officer / Originator

    If you are looking to purchase a home or refinance an existing mortgage, looking for the right loan originator is very important. The loan process can become very lengthy, so you want to work with someone that you can trust and are comfortable with. Mortgage Originators are there to help guide you through the process, and help set up your financial future. They are someone trustworthy to give you the best deal. You have to know that there are loan officers that are in the business for the quick cash, you want to make sure your potential loan officer has your best interest. Here are some tips on what you should consider when choosing a loan originator

    1. Make sure your potential originator is licensed in your state. They should ask questions and listen to your current financial situation, and ask about your financial goals to create a deal around you and your situation.
    2. Make sure their core business values match your needs. All loan originators have different values. Do not hesitate to ask questions that reveal their beliefs and intentions on helping with the loan process. Integrity is really important when it comes to choosing a loan officer
    3. Ask about customer service. Loan originator should be there to answer any questions you have along the way. They are to give you updates on the process as often as you request. Communication is important in any relationship, so be upfront with your loan originator on timing and means of your conversations. The best loan officer is someone who focuses on making the process as smooth as possible with the customers.

    We at OnLine Funding understand that buying a home is one of the biggest financial investments you may ever make. While it is a major commitment and responsibility, it can also be a thrilling experience and a very exciting time in your life. Trust your OnLine Funding Loan Originator professional to help you smoothly navigate all aspects of your home financing.