What is Mortgage? 

A mortgage is a loan secured by a property and paid in installments over a set period of time. The mortgage secures your promise that the money borrowed will be repaid.For most of us, a mortgage is the largest and most serious financial obligation we ever make.

There are many different types of mortgages, each with its own advantages and disadvantages, it is very important that you do your research.Remember that many people were impacted by predatory lenders and given mortgages that they could not sustain during the housing crisis of the last few years. Understanding these differences will enable you to choose the right mortgage for your financial situation and housing goals. Be an educated buyer!

For more information on different mortgage programs or which may best suit your needs, please contact me and I will be happy to assist you 

Some helpful links...

Mortgage news

mortgage rate watch

mortgage calculator

How much can I afford?

The answer depends on your financial situation, your future plans, and what you hope to do for yourself and your family by buying and owning a home.

Let's start with your financial situation. Ask yourself the following questions:

• Do you have a steady, reliable source of income and a steady employment history for at least three years?
• Do you have a good credit history and understand how to manage your credit? 
• Is your total debt manageable? Can you pay all your bills on time and still afford to take on the costs associated with homeownership? 
• Can you save money for a down payment and closing costs or have access to other sources of funds, such as a tax refund, or a gift from a relative?
• Do you have adequate savings to weather an unexpected loss of income or an emergency?