How do I win a home in a competitive market?
You are competing with many other qualified homebuyers, which means that if you want to win your dream home, you are going to need an edge.
One way you can do that is by applying for mortgage pre-approval. Your pre-approval letter tells sellers if you can afford to purchase their homes.
Something else you can do is work with a mortgage company that has a rapid, smooth loan process you can depend on.
Ascend Mortgage can close up to 29 days faster than average.
By speeding along the process, we make it more likely that you can get in ahead of the average homebuyer.
How do I make my down payment as a move-up buyer?
As a move-up buyer, you may find yourself in a position where you are trying to put a down payment on a new home before you finish selling your current home.
The easiest way to get the financing you need is to apply for a bridge loan. This short-term loan will allow you to make your down payment before you sell your home.
You can then pay off the bridge loan quickly and easily using the profits from the sale of the home.
Bridge loans are among our specialties at Ascend Mortgage. We have helped move-up buyers around the country win the home of their dreams with quick funding, and can do the same for you.
What are your mortgage rates?
The mortgage rates we can offer you depend on your individual qualifications. When you apply, we will assess your credit score, debt-to-income (DTI) ratio, and income.
What credit score do I need to purchase a home?
Individual factors go into determining the minimum credit score, such as the type of financing you are applying for.
But you do not need perfect credit to buy a home. Loan programs such as FHA, VA and USDA receive backing from government agencies to offset the risk associated with less-than-ideal credit scores.
That means that these programs are easy to qualify for and still offer affordable rates.
How much can I borrow?
The amount you are allowed to borrow to purchase a home depends on your borrower qualifications and the specific type of mortgage product you apply for.
For example, conventional conforming loans are subject to the Fannie Mae and Freddie Mac conforming loan limits.
But with a jumbo mortgage, you can borrow above these limits if you meet the qualification criteria for approval.
What down payment do I need?
The amount you require for your down payment is likewise based on the type of home loan and your qualifications.
The higher your income and credit score, the lower your down payment might feasibly be.
There are certain types of mortgages you can apply for that feature low or no down payment even if your credit score is less than perfect.
FHA mortgages are available with low down payments to borrowers with a minimum credit score of 500-580.
VA mortgages and USDA mortgages do not require a down payment for qualifying homebuyers.
What geographical area do you serve?
Our offices are in Rochester Hills, Michigan, and Jacksonville, Florida. But we work with homebuyers and homeowners in all 50 states.
For complete loan program details please speak with a mortgage specialist. All programs, rates, terms and conditions are subject to change without notice. This is not a commitment to lend. All loans are subject to credit and collateral approval. Some products may not be available in all states. All loans are offered through Ascend Mortgage, LLC a division of Florida Capital Bank, N.A. dba Ascend Mortgage NMLS 790396.
For complete program details, speak with one of our mortgage specialists. This is not a commitment to lend. All home lending products are subject to credit and property approval. Rates, program terms, and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply. Home lending products are offered through Florida Capital Bank, N.A. dba Ascend Mortgage NMLS 790396. Nationwide Mortgage Licensing System & Directory information can be found at www.nmlsconsumeraccess.org.