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.
Some up front costs include:
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.
On-going Costs: Your housing costs can include the following:
Monthly mortgage payment
If applicable - Flood Insurance
If applicable - Property taxes
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.
Don't wait! Find out about your options today!
Our Happy Clients
"Thank you to All Western and specifically Loan Officer Eric Gut and his Team for the great support in obtaining our mortgage loan. For self-employed persons, the mortgage loan process can be a real challenge and test of everyone's patience. Eric and his Associate, Samantha Russo, know the process very well, navigated the obstacles and kept their cool -- resulting in getting the loan completed and making us very happy customers. Thank you again!"
" I recently used All Western Mortgage for a loan on a new house I purchased and had a great experience. They had the most competitive rates and their process was so easy. The mortgage process is something I’m not very familiar with and Eric and Tory really took the time to help me understand my options and guide me in the right direction. They were extremely helpful throughout and were always available and easy to reach whenever I had questions. We even closed on my loan earlier than expected! If you’re looking for truly great service with people who actually care to help, I highly recommend All Western Mortgage."
"I had an excellent experience working with Mr. Gut. He was very cordial and professional, and patient when explaining complicated matters. Great customer service is hard to find, but Eric delivers. I will definitely do business with him again!"
"I had to find a lender to close on a house quickly and came across All Western Mortgage online. It was my first time applying online, but they made me feel very comfortable with everything and got my loan done in a few weeks!"