Mortgage Information

If you're like most buyers, a home is the most expensive purchase you'll ever make, and you'll probably need some form of financing.

There are many lending institutions that offer a variety of mortgage products. Financing options and rates can vary widely, so it is important to do your research and shop around to ensure you get the mortgage that best meets your needs at the best price.

As your Long & Foster real estate agent I can introduce you to a Prosperity Mortgage loan officer in our office who can prequalify you for a solid, 30-year fixed rate mortgage. Make your best deal on that special home you’ve always dreamed of! Activity is picking up. Open houses are humming. The selection of homes to choose from is huge. Buy now while mortgage rates are near their 30-year lows.

And 5 compelling reasons why NOW is a great time to BUY a home! Long & Foster and Prosperity Mortgage® have teamed up to help people buy their first home with responsible 100% financing! Full documentation is required, as is mortgage insurance.

People who want to move up to a bigger home as their housing needs change can also benefit from this solid, 30-year fixed rate financing.

REMEMBER:
1. Mortgage interest rates are still near historic lows.
2. Prices have moderated.
3. The selection of homes to choose from is huge.
4. Historically, the value of your home will increase over time.
5. There are many tax advantages to owning a home.

 

Use the mortgage calculators below to assist you in making some decisions around financing your new home.

Mortgage Qualification Calculator

This calculator will help you determine how much money you qualify to borrow. The results are informal. You will be subject to a credit approval from your financial institution taking into consideration existing debt load, amount of down payment, income and other variables.

Mortgage Payment Calculator & Amortization Table

This calculator will help you determine what your mortgage payments will be based on purchase price, interest rate and mortgage term, as well as other factors. The amortization table shows what the interest and principal payments will be over the term of the mortgage.