About Mortgages
Real Estate

Some Helpful Info On Mortgage Loans
Because most people do not have a pocket full of money to buy a house, more than likely you will need help getting into your new home. The following is some information on how Mortgages work, and how they can work for you.
Borrowing The Norm
Before the 1929 stock market crash, cash purchases of homes were the norm. Or if money was borrowed, it was on a term that typically didn't last much more than five years. That made payments relatively steep, which is part of the reason so many homes were lost in the Great Depression.

After World War II the U.S. government created a mortgage program that allowed veterans to make affordable payments over a 30-year period.

Lots of choices
Today, the 30-year fixed-rate mortgage, while still the most common way to buy a home, is just one of many financing options available. Indeed, many mortgages today are almost custom-tailored to individual needs.

Mortgage lending is a highly competitive field. Information on mortgage rates, which can change daily, is available in local newspapers, through mortgage brokers and from individual lenders. When you're shopping for a loan, interest rates tell just part of the story. You'll also need to study the various fees lenders charge.

Ask your agent
Your real estate professional can recommend lenders to check in with prior to beginning any serious house hunting so you'll know exactly what you can afford.

Other items to consider
Items marked with a * below are included as criteria in our online catalog search.
Time Frame
When do you want to move in?

Reasons for Moving?
Home Style *
Two Story, Split Level, Four Level Split, Ranch, Cabin
Home Setting
Open, Private, Wooded, Sunny, Yard Size
Present Home
What do you value that you want to have in your next home?

What do you dislike in your present home?

Lifestyle - What recreational activities do you most enjoy?

Amenities - What special features do you desire?
Home Features
Age? ___ New ___ Pre-owned or Resale

# of Bedrooms? *

# of Baths? *

Types of other Rooms? (rec room, garage, ect.)

What the other rooms have? (type of flooring, fireplace, counter top types, ect.)

Parking requirements?

Special requirements, needs?
Click here to view financing options
Price range: *

Pre-qualified? YES/NO

Pre-approved? YES/NO

Must you sell before purchasing? YES/NO 11
Down Payment Sources:
Bridge loan or equity loan


Stocks & bonds

Life Insurance

Gift funds

Company profit sharing/savings plan


Monthly payment you are comfortable with?
(Current rule of thumb: The monthly payment and other debts should not be more than 36-38% of gross monthly income.)
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