Loans

Rate!  Rate!  Rate!   So, you want the lowest interest rate?  We get it.

Interest rates are determined by how mortgage backed securities are sold and traded on Wall Street.  When the market is volatile, so are interest rates.  While it’s my job as a mortgage banker to monitor the market and advise you on when to lock in your rate, when to refinance or suggest options that best fit your financial goals as a homeowner, it’s important to know that there are other ways to reduce the interest you pay on your loan other than simply lowering your interest rate.

Whether you’ve recently purchased a home or have considered refinancing, you should evaluate your mortgage and implement ways to save money.  Let’s look at three methods to reducing the overall interest you pay on your loan.

OPTION 1:   Shorten the Loan Term

Here’s some food for thought:

A person will pay more interest over the life of their loan on a 30 Year Fixed at 4.125% than they would if they chose a 15 Year Fixed at 8.000%!

It sounds like a no-brainer.  If you pay off your loan in a shorter amount of time, you are going to pay less interest.   However, it’s important to understand how an amortization schedule works.   Even though your monthly principal & interest payment on a fixed rate mortgage never changes from month-to-month, the principal and interest amounts do.   Every monthly you make a payment, your loan balance goes down, so, the interest you are paying on the loan balance also goes down.  The principal goes up, keeping your payment the same.  Here’s how the principal & interest break down at various points of the loan term for a $300,000 loan at 4.000%.

Notice how much quicker the interest drops by paying more principal monthly on the 15 Year Fixed.

The numbers become staggering.   For the above scenario the person with the 30 Year Fixed will pay $215,607 in interest over the life of the loan whereas a person on the 15 Year Fixed will pay $99,432 in interest.   That’s savings of $116,175!  If you are comfortable with a 15 Year Fixed payment, it’s a great way to reduce the interest you pay on your loan while expediting your principal reduction.

OPTION 2:   Biweekly Payments

If you pay your mortgage monthly, like most homeowners, you’re making 12 payments a year. However, most lenders provide an option to setup biweekly payments.  Once enrolled in a biweekly payment structure, you’re paying half your monthly amount once every two weeks in lieu of 1 full payment per month. Since there are 52 weeks in a year, you will make 26 biweekly payments — This equates to 13 monthly payments for the year.

Because you’re making the equivalent of 13 monthly payments each year, you will have made the equivalent of 1 extra mortgage payment, all of which gets applied towards principal.  So, you’ll pay less total interest while lowering your principal balance at a much quicker pace.

If we look at a 30-year fixed loan of $300,000 at a 4% interest rate, a person would save nearly $35,000 in interest over the life of their loan.

OPTION 3:   Paying Additional Towards Principal

Even though you may have a fixed mortgage rate and payment, you can always make an additional payment towards principal.  This is similar to biweekly payments where additional funds are applied towards your principal balance, however you choose how much extra you want to pay and how often you want to apply an extra payment towards your loan.   Whether you want to set up a recurring amount to be applied with each month’s mortgage payment, or if you want to just pay a little extra from time-to-time, you can choose how much to pay and how often, and the savings will add up.

Using the same $300,000 loan amount for a 30 Year Fixed at 4%, applying an additional $200/month will save you over $50,000 over the life of the loan.  In addition to the savings your 30 Year Fixed loan will be paid off in less than 24 years.

Calculate Your Savings!

I am happy to provide a consultation to help you find ways to save money on your mortgage payment.  Feel free to contact me for a time to discuss.

You can also use the chart below to estimate YOUR savings by incorporating one of these methods..

VIEW CHART HERE
 

Chris Ulrich – United Home Loans
NMLS #215735

Now that you’ve decided to start the home-buying process, it’s time to figure out which loan program is best for you. Since everybody’s situation is completely different, you’ll want to have a discussion with a mortgage professional help provide direction. After months of online browsing, it’s likely you’ve run into a jumble of curious letters, acronyms, and confusing names like FHA, VA, Fannie Mae, and Freddie Mac. What do they all mean and how do you know which one is right for you?

First off, lets look at the primary differences between an FHA loan and conventional loans, which includes Fannie, Freddie, and Jumbo loans. Even if it’s not your first time purchasing a home, it’s important to familiarize yourself once again since many historical differences between these types of loans have changed in recent years. The remaining differences have to do with mortgage insurance and a few underwriting guidelines.

Loan-Level Price Adjustments
Two very similar individuals with similar income might be better off on two completely different loan programs. One reason is because of Loan-Level Price Adjustments charged on conventional loans. These are risk-based fees assessed to mortgage borrowers using conventional financing. Since these fees are built into loan pricing (the premiums lenders earn by delivering your loan to Fannie Mae and Freddie Mac), the borrower typically doesn’t pay in the form of money but their interest rate gets adjusted. For example, an individual with an 800 credit score will have a better interest rate than somebody with a 660. Makes sense, right? Well, there are several other price adjustments. A condo or multi-unit property will likely have a higher interest rate than a single-family home. Your down payment percentage and whether or not you are buying a primary residence, second home or investment property can also impact your interest rate.

For a “vanilla” loan scenario where somebody has 5% down, a 780 credit score and purchasing an owner occupied single family detached home, this person would qualify for the best pricing possible. Their interest rate and monthly mortgage insurance would be the lowest available, keeping their monthly payment as low as possible with just 5% down payment. So, a conventional loan would be the best program for this particular borrower. However, FHA has far less pricing adjustments and is a bit more forgiving when it comes to your credit history and current credit scores. If the person in this above scenario had a 620 credit score, their interest rate and mortgage insurance would be substantially higher on a conventional loan due to the Loan-Level Price Adjustments. In this case FHA might be the better option since there total monthly payment would be lower.

Derogatory Seasoning, Credit Scores and & Debt Leniency
FHA has always been known as a “first-time homebuyer” program, even thought it’s not. People still label it this way because it caters to many individuals who have the some of the characteristics of a person who might be buying for the first time. Whether it’s a recent grad needing Mom and Dad to co-sign, somebody with very little savings or a person just starting to build up their credit, FHA can be very accommodating. However, there are many reasons why FHA might be the right program for move up buyers.

FHA has a much shorter seasoning period than conventional loans for people who are recovering from a bankruptcy, foreclosure or short-sale. FHA will allow for individuals with compensating factors to purchase with a credit score as low as 500, where as the minimum allowed by conventional is 620. FHA may also allow for debt-to-income ratios (the percentage of your gross monthly income allocated towards all your month debts) above 50% where conventional typically caps people around 45%.

Mortgage Insurance
The Federal Housing Authority (FHA) is a government agency created in 1934 to help more Americans own homes. Specifically, it provides mortgage insurance to the lender making the loan in case the borrower defaults (fails to pay) on the mortgage. The insurance premium is due no matter what size of a down payment the borrower makes.

FHA loans require a portion of the premium upfront (or at the time the mortgage is made) and monthly for the life of the loan (in most cases) and stays in place no matter how much equity accumulates in the property.

Conventional loans require mortgage insurance for the same purpose as an FHA mortgage (to protect the lender in case of a default on the mortgage), but only for loans with less than 20% down payment. The insurance is provided by private companies, which is where the term PMI comes from (private mortgage insurance.) PMI on a conventional loan only carries a monthly premium and no ‘upfront’ portion is due, and it can be removed based on the equity in the property. Through a combination of paying down the mortgage and property appreciation, borrowers can contact the lender when they have at least 22% equity and request the insurance cancelation.

Compared side by side, mortgage insurance on an FHA loan will end up costing the homebuyer more money over the life of the loan. The portion of the insurance premium that is due upfront on an FHA loan is typically added to the original loan balance, and the monthly payment is made on the total amount. While FHA interest rates generally are lower than rates for conventional loans (with less than 20% down payment), the payment on the FHA loan is likely to be higher for the same property.

More Differences Between FHA and Conventional Mortgage
FHA used to stand out as the best option for buyers with less cash available for a down payment because it allowed a down payment of a minimum of 3.5% of the purchase price. Now, however, Fannie Mae and Freddie Mac have programs that will enable borrowers to make a down payment as low as 3% of the purchase price.

While both FHA and conventional both have monthly PMI for low down payment loans, conventional loans allow the borrower to pay for the monthly mortgage insurance by increasing their interest rate above the lowest prevailing rate. This is called ‘lender paid mortgage insurance.’ Typically, a slight increase in the rate of one eighth to a quarter percent eliminates the need to pay a separate MI premium monthly. Since mortgage insurance premiums are tax deductible at lower income levels, some borrowers may find that paying a higher interest rate (mortgage interest to deduct) is preferable to a lower rate and the MI payment. Talk to your tax advisor to find out if this might be a beneficial option for you.

While all mortgages require a property appraisal, FHA appraisals were traditionally more detailed as the appraiser was required to note any “health and safety issues” they saw while inspecting the property. After 2010, however, the requirements for all appraisals have been unified. If the property condition poses a health or safety issue, as noted by the appraiser, an FHA loan will require correction or repair before the loan closing. Conventional loans need the same; however, there may be a small amount of flexibility.

What’s Best For You?
It’s hard to imagine choosing an FHA loan after reading all of this, but it may be the best option for some borrowers. In general, the underwriting guidelines for an FHA loan are more lenient than those for conventional loans. Specifically, FHA may allow a higher debt-to-income ratio than a conventional loan. Credit guidelines are also more flexible both with past delinquencies and more serious derogatory credit events, as well as the depth of a borrower’s credit history.

With property values increasing across the country, along with interest rates, waiting for a credit score to improve or a delinquent record to drop off your report may not be attractive. FHA loans will allow some borrowers to buy a home sooner than they may otherwise have been able to with conventional financing options. If interest rates drop in the future, you can refinance using the FHA streamline, which reduces the usual process and won’t require a new appraisal. Conventional loans can only be refinanced by starting over at square one and going through the full loan qualifying and process again.

The more you know going into the home buying process, the better questions you can ask and the better decisions you can make. But nothing replaces the benefit of working with an experienced lender to fully evaluate your situation and give you the options that will work best for you. There’s so much more to it than the interest rate.

Written By: Chris Ulrich – United Home Loans
NMLS# 215735

We know of Millennials as the resourceful generation of independent minds shaping the world today through technology and start-up companies. They were referred to as the generation of renters with little interest in homeownership. However, times have changed and statistics show that Millennials make up the largest group of homebuyers today at 45% of new home purchases. This may be true, but research also shows that Millennials are still going through the stress of student loan debt while at the same time struggling to pay rent. With home values on the rise and inventory down compared to just a year ago, Millennials also have a hard time competing for a new home against move-up buyers.

The cost of rent has been a hot topic and is arguably one of biggest expenses someone may face. Research was completed by RentCafe as they turned to the U.S. Census to find out how much Millennials, specifically single individuals from the age of 22 to 29, spend in rent over that 8 year period. To even the field, the research was done for median income individuals in that age range.

The statistics show the burden of rent on twenty-something’s and why Millennials are shifting their mindset towards homeownership.

Millennials will pay $92,600 in rent before they turn 30 years of age. Remember, this is for those with the median income for that age range throughout the U.S…but where do you live? Are you in the city or suburb? If you are in Chicago and paying $1,800 per month, you will pay close to $175,000 in rent in just 8 years. These numbers become even more staggering when you consider the cost of rent increasing each year you sign a new lease.

If you rent or have been a renter for years, these numbers may not surprise you. However, are you aware that it’s recommended that rent be no more than 30% of your income and the average Millennial is spending close to 45% of their income on rent? This means that an individual earning $60,000 annually or $5,000 per month is spending $2,250 on rent when it’s recommended to be $1,500. At 45% of your income, you are spending more than Gen X and your Baby Boomer parents did.

Here is a previous article to learn more about Home Buying as a Millennial

What questions do you have? I’m happy to be a resource of information for you, walk you through the pros and cons of homeownership and help educate you so you make the right decision for YOU. I also conduct home buying seminars and even lunch & learn sessions for you and your coworkers. Call or message me for more information.

Written By: Chris Ulrich – United Home Loans
NMLS# 215735

What’s a cash out refinance? Quite simply, a cash out refinance is when you finance the equity you have in your home with a long term mortgage, not an equity line of credit. This is typically done by paying off your existing mortgage balance with a new loan that’s greater than the loan amount you are paying off and your proceeds are greater than $2,000.

With the Fed continuing to raise interest rates, short term loans like home equity lines of credit are directly affected and have become a less desirable option if you’re in need of some cash. The equity in your home is just sitting there, so a cash out refinance is a great way to put that equity to work. Whether you want to pay off some debt, help fund your child’s education, do some home renovations or consolidate your home equity line with your current mortgage, a cash out refinance might be a great option for you.

Let’s look the max loan-to-value (LTV) for a cash out refinance on conforming-conventional and government loans:

How It Works

Here’s an example of how a cash out refinance works for an owner occupied single family home. Let’s say you have a $200,000 loan balance and your home appraises out for $300,000. Since we can take the new loan to 85% of the value, we can pay off your existing $200,000 with a new $255,000 mortgage, giving you $55,000 in proceeds.

Consolidating Current First Mortgage and Home Equity Line

Let’s say you currently have a first mortgage as well as a home equity line of credit. You’ve probably noticed that your rate & payment has been going up on the equity line. Does it make sense to consolidate both loans, especially if you have a great interest rate on your current first mortgage? It depends on what the blended rate between both loans are versus what the new rate will be on the new consolidation loan. Most home equity line rates are structured around the Prime Rate. As Prime continues to rise, so does your blended rate. So even if your current first mortgage rate is lower than the rate on a new cash out refinance, it might still be worth consolidating to a new loan with a rate lower than your current blended rate.

I am happy to run scenarios for you and determine what options might be best for your specific scenario. Don’t hesitate to call or message me for a free consultation. My goal is to help you maximize your balance sheet but also find the right loan structure that fits your current and future goals.

Written By: Chris Ulrich – United Home Loans
NMLS# 215735

Everybody wants a deal. As they should, but don’t let getting a “good deal” prevent you from purchasing your dream home. Of course you have to feel comfortable with your payment and be able to afford the home, but I am referring to losing a home because you were out bid by a few thousand dollars or didn’t offer what the seller is asking for. This is even more important in a market where interest rates are on the rise. Paying more for a home today could actually have a lower monthly mortgage payment than a much less expensive home next month as rates continue to trend upward.

First things first. I’m not referring to a home that’s been sitting on the market for months. Bid whatever you want on that home and you’ll likely be able to find a fair compromise with the seller during the negotiation process. This article is geared towards people looking to buy that new listing that’s in a good location that is going to get multiple bids the weekend it hits the market. What’s the right amount to bid in a best-offer situation? Less than asking price? Asking price? Higher than asking price?

Talk to your lender and have him/her show you the difference in your monthly payment at various price points. Then talk to your realtor and have them pull sales comparisons to make sure your making an educated offer at a fair valuation. Then determine how bad you want the home and how long you see yourself living there. Because in a competitive market/location, it’s typical for values to rise. So you’ll likely feel better about making that strong offer when the return on your investment is much higher down the road.

You likely won’t overpay for a home. There are contract items that will prevent this from happening. For example, if you contract on a home at $420,000 but it appraises out for $400,000, you have an out. You also have ammo to go back and renegotiate with the seller. Appraisals are done by using recently sold homes comparable to the one you are purchasing, and there is a lot more data in these reports than there used to be. If the home doesn’t appraise out, you are protected by the language in your contract to cancel.

What’s the difference in payment? Assuming a 20% down payment on a home at $420,000 and $400,000, the difference is about $80/month. So do you love the home enough to pay an extra $80 per month? Is it worth losing the home for the cost of filling up your gas tank? Maybe, but most people home searching at that price point can afford the slightly higher payment. What people are forgetting to take into consideration are interest rates. People are so caught up on the dollar amount that what they fail to realize is that their monthly payment would have been lower at $420,000 today then at $400,000 next month if rates go up 0.5%. The longer you wait for the perfect home at your set purchase price, the higher your payment could go and lower your purchasing power becomes.

Are you somebody that has lost in a bidding war? Would you like me to show you a loan comparison for a specific property you are going to view this weekend? Call or message me today and I’m happy to provide you with a detailed loan comparison at multiple price points. Don’t get me wrong, price is important, but I encourage you to put more weight on payment than price.

Written By: Chris Ulrich – United Home Loans
NMLS# 215735

Whether you are purchasing or refinancing a home, we need to review bank statements. It’s important to know what we are looking for to prepare yourself for a smooth process.

In addition to assessing whether or not you’re able to regularly make your monthly mortgage payments, another role of mine is to make sure you have enough money for a down payment and closing costs. Part of how we do this is by reviewing your bank statements. However, we look a little deeper than just your account balance when approving or denying you for a home loan.

It’s important to make sure all your documents and records are sorted and straightforward before applying for a home loan.

Maintaining a “clean” bank statement

How many months

When applying for a loan, we will request two months bank statements. We will ask for all pages, including the junk pages. If your statement says “page 1 of 4”, then we will require all 4 of the pages. Online statements are acceptable but screenshots are not.

Multiple account holders

Is your bank account held jointly? Is there somebody listed on the account that is not on the loan you are applying for? If so, we’ll need a joint access letter from the other account holder stating that you (the person applying for the loan) has 100% access to all funds in the account.

Transfers from other accounts

The best thing you can do is limit the transfers. Any account you are transferring money from will have to be verified, especially if the transfers are large*. If you introduce another account, we’ll need two months of that statement. If you have large transfers into this new account, we’ll need to verify where those funds came from as well. The best thing you can do is limit the transfers over a 60 day period. *More on large deposits below.

Bank statement warning signs

Overdraft charges

Having a long list of overdraft charges in your account isn’t the best indicator that you’ll be a good borrower. No matter the circumstances, having a history of overdrafts or insufficient funds noted on your statement shows the lender that you might struggle at managing your finances. This isn’t always a deal breaker, but an underwriter may request a written explanation.

Large deposits

Another red flag to lenders is when a bank statement has irregular or lump-sum deposits. We need to make sure your funds are coming from an acceptable source. A large deposit is the sum of all deposits, not including payroll, which exceeds 50% of your gross monthly income. So if you earn $5,000/month, then the sum of your deposits must be less than $2,500, otherwise we’ll need to verify each of the deposits. Cash aka “mattress money” is not acceptable. Gifts and third party loans need to be explained, verified and documented appropriately. Unless you can provide acceptable documentation to paper-trail the large deposit, it’s likely we’ll disregard those funds, lowering your bank account total of acceptable funds for your down payment.

How to reduce bank statement scrutiny

Take extra care of your transactions for at least a few months before applying for a mortgage. Money that has been seasoned greater than two months will not show up in the account details of the statements we are verifying.

It’s best to start the process of organizing your bank activity and statements prior to applying for a loan. Start now. If that perfect home hits the market, you want to make sure your accounts are in order.

If you keep your bank statements top of mind in the initial search phases, you may have an easier time applying for a loan and ultimately securing it. Keep in mind that it’s best to maintain healthy finances throughout the closing process too. We will likely have to verify your earnest money deposit, so we may request additional bank statements prior to closing.

Written By: Chris Ulrich – United Home Loans
NMLS# 215735

So you want to have work done to your house. Maybe you want a simple update, rehab your kitchen & bath, or maybe you want to put a full addition on the house. Where do you start and what program is best for you?

It starts with having to know a few things.

• Get a rough estimate in costs needed for the work (labor, materials, repairs, permits and architect/engineer if applicable). It’s a good idea to get a quote from a general contractor & architect up front.
• Speak to an agent to get an idea of what your home may be valued at once the work is completed.
• Know your current home loan balance.

Knowing the answers to these questions will help us determine your program options.

Construction Loans or Construction-to-Perm loans
These typically are used for big jobs, additions and knock down/rebuilds. These loans require a bit of equity and/or additional funds out of pocket. Construction loans may require 20%-30% equity in your future home value. For example, if you have a $300,000 loan on your home and the future value after construction is $500,000, a construction lender that will finance up to 80% means your total loan can’t exceed $400,000 (80% of $500,000). The construction loan will pay off your existing $300,000, leaving you $100,000 for the work to be completed. However, if the work costs $125,000, you will have to put the additional $25,000 into the project.

Construction loans are typically short term. They have higher than market interest rates and are typically variable rate loans. As your home is being built or renovated, the lender will pay the contractor directly after each interval or phase of the build is completed. This can require multiple inspections and title updates/fees.

Once the work is completed and/or you obtain a certificate of occupancy, you’ll want a permanent or fixed loan. This is usually done by refinancing yourself out of the construction loan and into a fixed rate mortgage.

If you don’t have that much equity in the home or the future appraised value (based on comparable home sales in the area prior to the build), you can expect to have quite a bit of skin in the game.

Cash Out loans
This is the easiest way to get financing but will require the most equity because the future value of the home is NOT taken into consideration. We will look at your current appraised value and can lend up to 80% of it. For example, your home is worth $300,000 but valued at $400,000. We can only lend to $320,000. So your existing loan gets paid off with the refinance and you are left with an additional $20,000 cash. This might be perfectly fine if you just want to do a small job, update your kitchen cabinets or a bathroom.

Unlike a construction loan, you are given the money directly. This is nice because if gives you the flexibility to do some work yourself and purchase items that normally wouldn’t be included in a construction quote i.e. furniture, home theater or the catering for your house warming party.

United Home Loans Mortgage Makeover & FHA 203k
These programs are perfect for those people that have very little equity in their home. It is very similar to a construction loan but caters to individuals that just don’t have the funds saved to do the work. You’ll still need a licensed contractor, a quote for labor, materials, repairs and permits, and the contractor gets paid in phases throughout the process. The lending is also based on the future value of the home, but unlike the construction loans these are FIXED RATE loans and they have loan limits. Typically these products are used for renovations but NOT major additions. Do you have 5%-10% equity in your house and need $20,000 – $50,000 for updates? This is likely the perfect product for you.

Home Equity Line Of Credit
Think of this as a credit card with a lien (mortgage) on your house. You only make a payment based on the loan balance. Payments are interest only and can adjust with the Prime Rate. Anytime you hear about the Fed raising or lowering rates, you’re rate will be affected. Lenders are becoming a bit more flexible with credit lines up to 90% or 95% of your home value, but variable high interest rates make this product less desirable. The upside of the line of credit is your ability to draw on it, pay it off, then draw again and again as long as you leave the equity line open.

Whether it’s a minor update or major facelift, there are programs designed for your situation. Call or message me to discuss which option best fits your needs.

Written By: Chris Ulrich – United Home Loans
NMLS# 215735

One of the most common questions I get asked as people begin their new home search is “what is the max purchase price that I can afford?”

My answer is always the same, “it depends.”

I get it. You want to know the cap so you are searching in the right price range, but there are many moving parts that will determine what you can afford and there are different lending guidelines depending on the loan product. Keep in mind that so many things impact your approvability, i.e. credit scores, down payment, occupancy, property type and whether you are salaried or self-employed. For the sake of this discussion, I’m keeping this strictly to affordability. So let’s dive in.

First and foremost, we look at your debt-to-income (DTI) ratio when qualifying. What is this and how is it calculated? Debt-to-income is the percentage of your gross monthly income that is allocated to all your monthly debts. We look at your monthly liabilities, including revolving credit card payments, student loans, car loans, etc., plus your new mortgage payment and divide that by your gross monthly income. We aim to keep this ratio of debts vs. income below 40%. For example, if you earn $10,000 a month, then your total monthly debt payments including the new mortgage should not exceed $4,000. So if you already have $1,500 in revolving monthly liabilities, then your new mortgage payment should not exceed $2,500. We work backwards from there to find the purchase price that would keep your payments around $2,500. However, we could never tell you exactly what the max home price you can afford is because the mortgage payment will be different depending on the property taxes of the home and/or association fees on various condos you may be interested in.

In the example above, I used 40% as the debt ratio we aim to keep you at or below. This gives us a buffer since most often we can actually go up to 45% and sometimes 50% with compensating factors like high down payment and excellent credit scores. Some government sponsored loans like FHA may even go higher but at a certain point you will become too much of a risk for the banks to lend. The entire profile of the loan is reviewed in order to make an underwriting decision, so there is no exact science to determining how much home you can afford. You’ll need to rely on the experience of your loan officer to help provide guidance.

Loan product can also impact how much home you can afford. The conforming loan limit is currently $453,100. Any loan amount over this is considered a jumbo loan, which has a different set of guidelines. Not only are debt-to-income ratios more strict on jumbo loans, but while somebody might be able to afford the monthly payment on a million dollar loan, they won’t find a program if they only have 5% down payment.

Payment SHOCK! Now that we’ve determined what you can qualify for on paper, you need to determine what you are comfortable with paying. There are various things we don’t account for in your debt ratio and you just might not be ready for the higher living expense. Maybe its day care or future private school tuition for you kids. Maybe it’s your lifestyle choices or hobby of collecting vintage wines. Or maybe… you were just living rent free with your parents and you’re about to take on a housing expense for the first time. Whatever it maybe, you may find yourself having “payment shock”, and regardless of what you may qualify for, at the end of the day it comes down to your level of comfort.

Give me a call for a free pre-approval. It’s important we have a discussion about your current and future goals as a homeowner so that I can help guide you towards the right price range that you don’t just qualify for, but you are comfortable with as well.

Written By: Chris Ulrich – United Home Loans
NMLS# 215735