At Watkins Home Loans, we will work with you every step of the way to provide you with the service and advice you need.
Below are some of the common questions First Time Homebuyers have. Once you have answers to all your questions, click on the Get Pre-Qualified button to find out the best mortgage loan for you!
What are the Benefits
of Home Ownership? |
Home ownership is often called the "American Dream" because of the pride that comes with owning a place you can personalize and call your own. However, beyond these intangible benefits, it is important to consider the following benefits when determining whether to rent or buy, including Building Equity, Tax Benefits, a Solid Investment.
- Building equity: Home ownership allows you to build equity with each mortgage payment. In fact, the equity that you build by paying down your home loan can be viewed as a kind of savings program.
- Tax benefits: Homeowners receive substantial tax deductions related to their mortgage payments. Both mortgage interest and real estate property taxes are generally deductible from your federal and many state income taxes.
- Solid investment: Many analysts believe that real estate is the foundation of a financial investment portfolio. As your home increases in value, you can get low cost loans for any purpose by borrowing against the added equity (home equity loan). While not the answer for everyone, the above benefits make buying a home something that every renter should consider.
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| What can I afford to buy? |
Each buyer is unique — and we'll help you find out just what you can afford. Your income and debts, credit, down payment, and choice of mortgage can all play a role in determining your price range. Don’t worry – we’ll help! |
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How can I qualify for
MORE home? |
With an Interest Only, or Adjustable Rate Mortgage, homebuyers can qualify for more home. For more information, see our Compare Loans Chart. |
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Do I have enough money
to buy my first home? |
We offer a range of mortgage programs, and we'll help you determine which can work for you — some of our loans require little or no money down. You'll also need to consider closing costs and the escrow account for taxes and insurance. But don't get overwhelmed – remember, we’re here to walk you through it. |
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What about my
less-than-perfect
credit report? |
Our special solutions program can help:
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What's the best loan
program for me? |
That depends on a number of factors, including:
For information on the loan programs, just visit Compare Loan Programs. |
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| What is a free pre-qualification letter? |
A pre-qualification letter is a statement that you are qualified to service a specific amount of debt. It merely requires that you provide some general information about your income and debt levels.
Saving time is a great advantage of being pre-qualified. Once you have a pre-qualification letter, you will know your price range and affordable mortgage payments. Then you can concentrate on finding the right home! |
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What do I need to
know about the
mortgage loan process? |
Just this — you've come to the right place for the loan process. We've worked to simplify the process and provide the best loan experience possible. Once you are pre-qualified, you’ll have an idea what you can afford to buy. Then we can take the next step to obtain you a full lender approval, which will require a few more documents and verifications. |
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| What can I expect after I become a homeowner? |
Besides unpacking boxes? You can expect that we'll continue to provide first-rate support and service. We're always here to help: contact us by email or by phone. |
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