Mortgage Loans

mortgage loans

Your mortgage is one of the most important decisions you’ll make whether buying a home or refinancing. The right mortgage can make homeownership affordable and possible. The wrong mortgage can make homeownership an unbearable burden.

At Priva Mortgage, we work hard to ensure you are in the mortgage that makes the most financial sense for your situation. Here are the steps to consider

Understand How Much you can Afford

At Priva Mortgage, we work closely with our borrowers to make sure you don’t borrow more than you can afford. What you can afford on paper is a lot different than what you can afford in real life. We’ll work with you every step of the way to make sure your mortgage payment is affordable and makes sense for your financial situation

affordability calculator
right interest rate for your home loan

Choose the Right Interest Rate

The interest rate is all anyone talks about when they take out a mortgage. That’s because it’s the one fee you pay ongoing while you have a mortgage balance. You have many options including a fixed-rate mortgage, adjustable-rate mortgage, or a cross between the two.

Our mortgage professionals can help you determine which interest rate suits your budget and proposed timeline for homeownership.

Choose the Right Down Payment

How much you put down on the home affects your interest rate, loan approval, and overall loan costs. The more money you invest, the less risk lenders take, but you shouldn’t leave yourself without any liquid funds either. We can help you determine how much you should put down to get the best rates and terms and still have liquid assets available.

down payment on a home
mortgage loans for homebuyers

Determine Which Loan Program is a Good Fit

We offer a wide selection of loan programs to meet the needs of all homebuyers and homeowners. From conventional to government-backed loans, we have loans with flexible underwriting guidelines to make it easy to qualify for the financing you need.

Get Pre-Approved

It’s always a good idea to get pre-approved before you look at homes. Sellers only want to deal with buyers who have mortgage financing. A pre-approval takes only a little effort, yet it can be the reason a seller picks your offer over another buyer’s offer.

The pre-approval tells you how much you can borrow, at what rate/terms, and any conditions you must clear to get final approval.

pre-approved home loan
finalize underwriting

Finalize Underwriting

Your final step once you get pre-approved and find a home is to finalize underwriting. Our loan officers will work closely with you to help you understand what conditions you must satisfy to close on the loan.

At Priva Mortgage, we work closely with our borrowers through every step of the mortgage process. We know it can be overwhelming to take out your first mortgage, but we’re here to help you. Contact us today to see what loan options we have for you and what interest rates/terms you qualify for to start your journey in homeownership.