Buying a home is a huge investment both emotionally and financially. It’s not just a condo, apartment, or villa, it is where you make the most beautiful memories, paint it your favorite color and decide the aesthetics of how you like it. After all, you are the one that makes a place home.
As a first time home buyer, it is important to consider many factors before signing the deal. It’s not like renting a place where you can switch whenever you wish to. Buying a home is an exciting decision. But as you make the fun journey of looking for your first home, you need to scrutinize your finances. Perhaps, the most important decision is deciding how you want to pay for your home.
The market is flooded with home-buyer loans, with banks and lenders offering competitive interest rates on home loans. With a variety of mortgage loans available, the options are just overwhelming. How to decide which one is for you? Well, Galizet is here to take the mystery out of getting your first home loan.
Popular loan options for first-time buyers
Here are some common mortgage loan options for first-time buyers. Consider this ahead of calling a place your own to get the best deals and interest rates on home loans. Even if you qualify for more than one, our loan experts will help you find the best.
- FHA fixed-rate loans: saving for a down payment is the biggest obstacle you can face while buying a home. But with Galizet, you are sorted. Move-in with as low as 3% down payment. With fixed-rate loans, you pay installments for a period of 30 years or 15 years. We offer you a customizable plan where you can adjust the pay off accordingly.
- VA Loans: looking for a home loan with no down payment? Well, if you are an active duty, service veteran, member or surviving spouse, you can get VA loans with fixed interest rates, simple procedure, and favorable loan conditions.
- Bridge loans: Although not for first time home buyers, this loan option is excellent for people looking for a new home before selling off their existing home. Through the bridge loan option, one can buy a new home and pay off the mortgage once the existing one sells.
- Construction loans: All this property options and none please you? So you want to build your kind of home from scratch? Well, you can build a new home with construction loans. With just one set of closing fees, a simple draw schedule, and interest-only payments through the entire construction period, you can build your own first home.
Steps to buying a new home
- Get a loan approved: As discussed above, finances form a major factor in your decision of buying a new house. Before you start looking for a house, the first thing you should do is to get approved for a loan. By doing so, you’ll be able to figure out your budget and look for homes accordingly. Also, it makes the rest of the process easier. We are here to get you a quick mortgage loan approval.
- Find a real estate agent: After your loan gets approved, it is required that you look for real estate agents. But the beauty of hiring Galizet for your mortgage loan needs is we take care of the complete home buying process. We have partnered with expert real estate agents that help you find the right house at the right place and right price, negotiate with sellers to get you the best deal, and manage all your paperwork to make the process as easy for you as possible.
Why choose Galizet?
We are South Florida locals with a combine 30+ years of experience in the real estate industry. But that shouldn’t be reason enough for you to trust us. Choose Galizet because
- We have partnered with industries’ brightest mortgage brokers, property managers, and loan assistance to solve your real estate challenges.
- We provide competitive low interest rates in the mortgage loan industry.What’s best? We are even willing to negotiate based on the property you wish to buy.
- We provide low-rates, great service, and a hassle-free mortgage loan process.
- Our financial and real estate experts suggest the best mortgage loan plan for you based on your credit score, payment options, and down payment capacity.
- We give you flexible mortgage payment options, so you can pay off your loan ahead of time-based on funds at your disposal.
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