How do I know what price house I can afford?

Our pre-approval process can be done over the phone via a short interview and review of your credit history. Based on your specific circumstances, Longman Financial Group will help you determine the price of house that you can afford. As a result, we can fax your Realtor a pre-approval letter. As a pre-approved buyer, you can submit an offer on your dream home with confidence! Call us today for your pre-approval!

How much cash up front is needed to purchase a house?

The amount of cash required to purchase a house is broken down into two main categories—closing costs and down payment. At Longman Financial Group, we strive to understand the unique aspects of your financial situation in order to assist you in finding the right mortgage program for your needs. We will thoroughly discuss the various scenarios available for financing when you complete and submit your loan application. As a result, a Good Faith Estimate (a breakdown of the estimated closing costs required to purchase your home) will be presented based on the loan program you have selected. Call us today for an appointment to complete your loan application!

How is my interest rate determined? What about the rates I see advertised online?

The two main factors involved in determining the interest rate on a loan are (1) the financial market, and (2) the borrower’s income and credit history. Contrary to popular belief, the borrower actually has the power to influence the interest rate on their loan.

Often the rates seen advertised online are “national averages”.