Taking the Spookiness Out of Home Financing

Published on October 30th, 2014

Navigating the Mysterious Waters of Home Financing


Home financing can sometimes be seen as the “bogeyman” in the mortgage industry. With all the hurdles one might have to jump through to become a homeowner, this can be scary territory. As frightening as it might seem, here our vLoan team can wave our magic wands (work has hard as we can) and offer the tools you need to move you closer to that dream home. If you’re ready, you are welcome to get a free online rate quote or contact a mortgage advisor.


For those of you who are still spooked by the idea of becoming a homeowner, here are a few tips that can help ease your nerves:


  • Don’t be afraid of a down payment. The myth that lurks around the internet, stating that you need to have a certain amount of money to put down on a home isn’t always true. There are plenty of Home Loan Programs that allow you to offer minimal money up front. If you feel like you are in a situation where having to provide little initial investment would benefit you – it’s best to consult a UHM representative today so they can assist you in a program that is suited for your situation.


  • Less than perfect credit doesn’t always frighten lenders. We know that sometimes things can happen that are beyond your control, or you may not even be aware of an issue. If you have been told that you have a low credit score, or are haunted by past mistakes, there are steps you can take to improve your credit standing. An open discussion with your UHM rep or a trusted financial counselor would be a good first step to overcoming credit related fears.


  • Pay attention to what you can afford – and consider going lower than your highest number. Just because you get approved for a certain amount doesn’t mean you have to spend that much. Looking for houses below your budget is a great way to save money to put towards other things like: a down payment, furniture, renovations, or stash it away for your monthly mortgage payments.


  • Lastly, don’t be afraid of homes that need a little TLC (even if it looks like witches used live there). You may be able to find one for a great price and there are Home Loan Programs that could give you assistance with these types of properties.


Overall, if you have professional guidance, there’s no need to be scared of home financing or the process of purchasing a house. If you are still hesitant to jump into the mysterious waters, feel free to contact our vLoan team today. If you are ready, get a free rate quote using our multi-step calculator.



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