Whether it’s your first home or your fifth, the homebuying process can be daunting but do not worry because we are ready to help you throughout the process.
What it Takes to Buy a Home
Buying a home has long been considered a cornerstone of the American dream. Whether it’s your first, or one of many, getting a home loan to purchase a home is one of the most significant financial decisions you’ll make in your life. Many people decide to buy because of the benefits associated with home ownership.
If you want to make that first step toward home ownership, there are several ways to obtain a home loan. It may take time to understand the different home loans and which one is right for your financial situation; that’s why it’s important to work with a licensed loan professional who can walk you through your various options.
What it Takes to Buy a Home
Buying a home is a big decision. For many buyers, the experience can be stressful. Teaming up with a Real Estate Agent and Scion Lending Originator will make the process much easier so you can enjoy the fun part.
Ready to buy? Here’s how to get started.
Why they are choosing Scion Lending?
Buying a home is supposed to be one of the most exciting moments in our lives! Don’t let a lender’s inability to close your purchase on time turn your excitement into anxiety. At Scion Lending we guarantee* that you’ll close your home purchase on time! After all, you should be able to plan your move in date weeks ahead of time and not be worried about the consequences of not meeting the closing date on your purchase agreement.
- Our Closing Day Guarantee* allows you to plan weeks ahead and count on closing your purchase on time!
- Our licensed mortgage bankers are trained to offer intelligent mortgage advice!
- Our interest rates and closing costs are low so that you’ll save more money!
- Our state-of-the-art technology is designed to save you time and keep your personal information safe!
- Our mortgage process is quick and easy – you’ll typically close your loan in just 18-20 business days!
- Our company culture is truly consumer focused and we guarantee your mortgage experience will be better than any other!
* Contact us for details
The down payment is the part of the purchase price the buyer pays in cash and does not finance with a mortgage. Down payments are a percentage of the home’s selling price. For example, a 20% down payment on a $100,000 home is $20,000. Placing down payments helps protect buyers in a fluctuating housing market, creates equity, improves your credit score, and often lowers your interest rate. A down payment also shows lenders that you are serious about the purchase. As an added bonus, whatever you put down is money you won’t be paying interest on.
The type of mortgage determines the minimum down payment needed, usually ranging from 0% to 20%. Your Mortgage Loan Originator will let you know what down payment percentage is required of you and how much you should put down in order to save the most money in the long run.
Options for Veterans
Veterans Administration loans (VA loans) are designed to help Veterans obtain financing at very reasonable rates and offer financing up to 100% of the home’s value.¹ This means that a qualified Veteran, spouse or active-duty military member could buy without having to make a down payment.
Government Loan Options
The Federal Housing Administration (FHA) was created to help middle- to lower-income buyers secure home loans. The FHA doesn’t actually lend the money; instead, it insures the loan. The FHA requires down payments as low as 3.5% and accepts a wide range of credit scores. ¹100% financing available on primary residences up to county loan limits.
¹100% financing available on primary residences up to county loan limits.