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Affinity Lending Solutions

Affinity Lending and Lightyear Construction & Real Estate

Financing your new Lightyear Home with Affinity Lending Solutions

HOW IMPORTANT IS FINANCING?

Being able to finance your new home is absolutely critical to being able to buy the home. One would think that goes without saying; However, experience has shown us that it simply can't go without saying. That having been said, IT WILL BE WORTH YOUR TIME (IN MONEY), TO DIAL IN YOUR FINANCING PRIOR TO SHOPPING FOR YOUR NEW HOME.
Most people understand home financing to a degree, but that doesn't mean you can't learn more. The bankers or lending professionals that you'll talk with at Affinity will help you understand all of your options in obtaining financing for your new home. Just as important as understanding all of the home options when building a new home, the better you understand the loan program that you're qualifying for, the better your payment could be.
If you're unable to obtain financing today, perhaps there will be some simple things you can do to obtain financing in the near future. Talk with your lending professional at Affininty Lending Solutions today to better understand what steps need to be taken!

"Not all banks are created equally"

Sound advice would be to obtain multiple opinions from multiple people when looking to finance your new home. If a lender is concerned that you're shopping them, perhaps you should be concerned that you're considering using them. Are they being competive and getting you the best possible rate?

"If you don't feel that you should obtain more than one opinion, then maybe you're a cash buyer? If not, I don't understand why you wouldn't obtain at minimum a second opinion."

Do you know the rate that you've been quoted on your new purchase? Understanding how a rate can affect your payment is critical in understanding your loan. For more information on that, check out additional sites on the internet. http://www.bankrate.com is one of many good solutions to better understanding home mortgages. When you go there, you should look at the amortization chart and see what you can understand with that. Understanding your finances is critical in life, not just in your next home purchase!

“Anyone who lives within their means suffers from a lack of imagination.” – Oscar Wilde

I dont' know that there could be a truer statement, especially when building a new home. When you make your application for your new home loan (PRIOR TO CONSTRUCTION), make sure you ask any and all questions that you ought to ask to understand as well as you can where your finances lie at that point in the process. Change orders always come into play during construction, and anyone not tempted at least a little bit to live outside their means is a better person than I am.

WHAT IF THE RATES CHANGE WHILE I'M BUILDING MY HOME?

As stated early, rates are always changing. Rather than posing the above statement as a question, change it to a statement of fact. The rate will change while you're building a home. You want a lender that is familiar with new construction, and understands how to manage your loan lock, and knows to watch the interest rates and keep you keyed into what the rate is doing. They should advise you if there comes a point in time that you ought to consider locking your loan, even if it costs you a little bit of front.

Other things to consider when choosing a lender for your new home.....

Rates always change. A good lender will help you get the best one.
New Construction is different than existing homes. Things will follow a different timeline, such as the appropriate time to order an appraisal.
Are there any incentives from the builder for using a lender whose opinion they are already comfortble with?