Purchase a Home
Purchasing a home is a very exciting time, and being well prepared will help you make better decisions. Take this opportunity to learn more about home buying and the mortgage process. Below and throughout this site, you will find information that will help you with the purchase of your new home.
Am I really ready to buy?
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.
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.
Monthly mortgage payment
Flood Insurance (if applicable)
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. Just fill out or Quick Quote form and we will give you all of the answers.
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Our happy Clients
"I've been in the Real Estate Industry for over 15 years and I've worked with a lot of lenders. I can truly say that Andy Gobin with NewStar Mortgage is one of the BEST!! His integrity and his above and beyond attitude is SO refreshing, No matter the size of the loan he goes that extra mile, even when I'm over the top he remains his same calm self. He genuinely cares for our clients and is ALWAYS accessible I mean on weekends late at night and even on Holiday's. I truly enjoy having him on my team and is a JOY to work with. "
"In the latter part of 2014, I sold and bought a home two months apart which can be a very stressful and daunting task on anyone. However working with Mr. Andy Gobin of New Star Mortgage was one of the best decisions I made in securing a home loan. Mr. Gobin came highly recommended from a friend and from my very first conversation with Mr. Gobin, I had NO regrets. While mortgage loan officers from other companies gave up on my financing, Mr. Gobin didn’t and worked hard from day one to find a loan that would work and that he did! During the process, I called him numerous of times of the day, Mr. Gobin’s kindness, professionalism and demeanor never changed. Additionally, my realtor was so impressed with Mr. Gobin’s professionalism, responsiveness and the efficient way Mr. Gobin handled the processing of my loan docs, he is also referring customers to Mr. Gobin! He (Mr. Gobin) carefully explained the loan process; kept me updated throughout the process; closed my loan in a timely manner; and was able to get me an outstanding (low) rate. If you are looking for a mortgage loan and are not concern about the processing time or getting a great rate....... then call any mortgage company. IF you want your mortgage loan processed quickly, professionally AND get the best rate…. then I HIGHLY RECOMMEND that you call Mr. Andy Gobin of New Star Mortgage!"
"Your company was so much more professional then the last mortgage company I used. Every question I asked was answered honestly and accurately. I would recommend you to anyone."