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| The Most Important Thing Before You Buy |
| Get pre-approved! One of the most important things you should do before you even start shopping or talking to a real estate broker is to get pre-approved for a loan. First, this will let you know how much house you can afford. And second, when you do get ready to make an offer on a house, your pre-approval shows the seller that you are capable of getting the money that you’re offering. Naviloan is happy to give you a pre-approval at no cost to you. Call us today and we’ll help you through the process. |
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| NO MONEY DOWN |
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| Purchase your home with zero down |
When you go to purchase your next home, or your first home, you can do so with little or no down payment.
Naviloan has several different ways to do this. The most common is to split the purchase price into two loans. Typically, we do 80/20 which means 80% is in the “first” loan with a lower rate and the other 20% is in the “second” loan. Second loans have a higher rate because they are riskier loans for lenders. |
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| Great for First Time Home Buyers |
It’s increasingly difficult to put 10 to 20 percent down in today’s housing market unless you have already been “in the market” and can roll the gain from your old house into your new one.
First timers can still get in with a modest amount of savings by using the 80/20 loans and the money you’ve saved will help you qualify for a better rate. So keep your down payment money in your pocket, it will come in handy when you’re ready to buy something nice to put into either your new living room or your new garage. |
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| 100% one loan |
| Some buyers want to get their entire purchase price covered by one loan. They don’t want the hassle of making two payments each month so having one loan takes care of that issue. In some cases, a buyer might not qualify for an 80/20 but does qualify for 100% one-loan. Your loan specialist will go over the costs and benefits of this type of loan with you. |
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