Financing Your Home Purchase
Your home is the largest purchase you are likely to make in your lifetime. Most people finance it with a mortgage. The process of acquiring your financing typically follows this process:
The financing process
The tools provided here will help you understand your buying ability. The accuracy depends on the information you place into it. When you select a mortgage lender, they will guide you through these steps again with greater attention to details.
Home ownership calculator: This Ginnie Mae calculator uses information on the home price and your current rental payment to estimate your monthly payments and the money you would save due to the tax benefits you may receive. It also calculates equity gains on the value of your property. EVEN IF YOU DON'T RENT, this is a good first step to see what your monthly payments and tax savings might be.
Enter your estimates, calculate the results, print the page and then close it to return here.
Affordability calculator: This calculator helps you understand how much home you could afford, your income, and debt commitments. It's a great way to narrow down home pricing in your search.
Mortgage calculator: With just three pieces of information - Mortgage amount, term of the mortgage and rate, you can see what changes to the down payment do to your monthly payment. Try it now!
Selecting your mortgage company
Like any other business, mortgage financing is a competitive one. You'll probably find that the rates between the companies don't differ much. Still, getting a lower rate can save you money over the life of your loan. But rate isn't the only factor that you should consider.
The home financing process requires you to supply a lot of detailed information for approval. It also requires the lender to do a number of things in a timely fashion.
Rouse Chamberlin Homes offers a Preferred Lender Program. After thousands of home settlements, we've identified specific lenders who make the mortgage process easier for the buyer.
We are proud to offer our preferred lenders, who not only have proven to make financing run smoother, but also offer special exclusive benefits to Rouse Chamberlin Homes buyers.
What Our Buyers Have To Say:
"We love our home and the neighborhood. The positioning of the homes and layout of the community reflect thoughtful planning – and the number of homes is small enough to form a close-knit community. The house itself is very livable, and needs little maintenance we've never even had a wet basement."
