Purchase a Home
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Buying a home offers many advantages, one of the most significant being that it allows you to build equity (ownership) when you pay your mortgage each month. A common myth is that monthly mortgage payments are more expensive than rent. But, in many cases, mortgage payments can be even less than rent. When considering home ownership for the first time, you need to decide whether buying makes financial and practical sense for you right now or if you are better off renting. Consider both the advantages and disadvantages to renting as well as buying, and weigh the pros and cons for your particular situation.
How much “house” can I afford?
The first step toward finding the right home is to quickly compute your purchasing power and determine how much you can afford to pay each month. This saves you time by allowing you to focus on homes in your price range.
Some up front costs include:
Down payment: Typically ranges from 3-30% of the cost of the house. The more you can put down, the greater equity you will have in your home and the lower your monthly payment will be. For down payments less than 20% you may also need to pay mortgage insurance.
Closing Costs: Typically range from 2-6% of the loan amount depending on your area.
On-going Costs: Your housing costs can include the following:
Monthly mortgage payment
If applicable - Flood Insurance
If applicable - Property taxes
How much can I get pre-qualified for?
Before you go looking for a home, you should see if you are financially able to get a mortgage and get an estimate of what you pre-qualify for from a lender. If you are working with a real estate agent, getting pre-qualified lets them know you are a knowledgeable and serious buyer.
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Our Happy Clients
"You were an answered prayer and have given us so much peace of mind."
"The entire process was not only simple and quick but a pleasure as well. That is something that I could never say about Quicken. Your professionalism, honesty and kindness seem to be a rarity nowadays. Thank you for helping us realize our dream. People need to be aware that there is a mortgage company that not only does a phenomenal job but cares about its clients. "
"Thank you very much for your flawless effort to close my mortgage application. Certainly I will recommend your company to my friends in the future. Thanks again for your great service."
"Tom at Top Vine is the most attentive mortgage broker and was our night and shining armor! We were originally working with another broker, who made us many empty promises and 2 1/2 weeks before we were closing, we had to switch mortgage brokers. Thank goodness we did! Not only did Tom work his butt off to have us close on time but he made sure we received the best rates. He was extremely helpful and always kept us in the loop. He made us feel very comfortable."
"As first-time homebuyers, we were very anxious and nervous about the whole process but going with Top Vine was one of the best decisions we made! Vincent and his team not only walked us through all the requirements, but they worked with us day and night to make the process easy, comfortable, and offered great advice along the way! I recommend Top Vine to anyone looking to buy a house!"
"The experience of buying our first home went absolutely flawless thanks to Vinnie and the Top Vine staff. They made us feel at ease and completely stress free. We felt so comfortable the entire time and they went above and beyond in their customer service and their care. I have recommended them to everyone I know. Thank you so much Top Vine!"
"This is the third time I've worked with Vincent and it won't be my last. He cares so much about his customers, I really felt the love from the beginning. I tell everyone to go to Top Vine as they really know their stuff, are patient, accessible and clear about every single step. I will only use Top Vine for future transactions!"
"We are so glad we went with Top Vine to refinance our home. Couldn't be happier or more pleased. Tom made the entire process so easy- he's incredibly experienced, professional and responsive. I've recommended him to everyone I know and will continue to do so. He's the best!"
"This is my second refinance with Tom Pasckvale. He is a true professional and really went above and beyond to get me the best rate possible for my refinance. He made it possible for my daughter and I to remain in the house we love! I would recommend Top Vine and Tom to anyone who is in need of a mortgage!"