The following links are designed to help you with your upcoming home financing. Please call or email with any questions or concerns.

How much can I afford?

With so many loan programs available, it's important to find the best fit for you.  Talking with a lending professional early in the process will save you time by letting you focus on homes in your price range.

Become Pre-approved for a home loan

Time is a key element in your home search.  By becoming pre-approved for your loan, you not only save time, but you:

• Can focus your search on the homes that best fit your financial situation
• Have confidence when making an offer to purchase a home
• Show the seller your offer is serious and already conditionally approved

Be knowledgeable about down payments

Your down payment can vary greatly depending on the type of loan you have and what your resources are.  Today, many lenders have options for down payments as low as 3%.  There are even a few programs available with a ZERO down option, allowing a buyer to finance 100 percent of the purchase price.  Some will even allow you to finance up to 3% of the closing cost.

Gifts and loans from sources other than a bank can help you with your down payment.  This option can't be used with all loan programs, so be sure to talk with your lender first. 

Plan for closing costs

Plan accordingly:

Costs can include:

• loan fees
• escrow fees
• homeowners insurance
• title insurance
• inspections
• private mortgage insurance

Credit History

In order to strengthen your chances of a speedy loan approval, you need to be completely candid with your lender about all aspects of your financial history.  Knowing what your credit looks like will help make the overall loan approval process much more efficient.  Check out "Resources" on this website for more information on lenders, credit reports, and much more.

Elizabeth Arganian

John L. Scott/Seattle Center

elizabetha@seattleurbanhome.com

www.johnlscott.com/elizabetharganian

(206) 269-2262

(206) 260-3490 (fax)

For personalized Mortgage Services, Contact: