Louie Wickett Can Help with FHA Home Buying and Other Home Financing Services
Louie Wickett - Mortgage Lender, with offices in Urbandale, Des Moines, Iowa, is happy to announce that they can help people who are interested in becoming a first time home owner. Buying a home for the first time can be confusing and intimidating because it is an important buying decision involving a large amount of money. Typically, the buyer doesn’t have enough cash for the purchase, which means a source of funding must be found. Buying a home is such an important investment that even the government has agencies who can help with this. For instance, there is the Federal Housing Administration (FHA) who provides the insurance for the home financing offered by FHA-approved lenders. It is through such home financing products that home buyers are able to get funding for their new home with a down payment that is as low as 3.5 percent, which makes them popular with first time home buyers.
Finding a suitable source of home financing and getting approved can be a long and complicated process, which is where Louie Wickett comes into the picture. He is ready to provide answers to the many questions that people who are looking to purchase a home have, especially first time home buyers. There are many kinds of home financing products, such as those that offer a fixed interest rate and others with variable or adjustable interest rates. There are also a number of requirements for those who want to apply for home financing, such as a minimum credit score and more. Louie Wickett - Mortgage Lender can also provide answers to questions regarding these.
An important question that home buyers usually have is how much house they can afford. That is why the Louie Wickett - Mortgage Lender website has a free mortgage calculator, which allows the user to determine how much house he or she can afford by adjusting either the purchase price or the down payment to see how the monthly payments will be affected. This will provide home buyers with ball park values of the purchase price and down payment that can offer the monthly payments that they are comfortable with. They will then start searching for start looking for homes for sale Urbandale Iowa neighborhoods can offer that are within that price range.
Meanwhile, Louie Wickett advises home buyers that there are additional factors they need to consider when determining their monthly budget. Monthly payments are not just what they need to think about. They also need to consider other things, such as taxes, homeowner’s insurance, and home financing insurance. Another important factor is how much down payment they can afford. And home financing insurance must also be considered because it can increase the monthly payments. The amount of insurance required is dependent on the amount of down payment. This is because a down payment that is lower than 20 percent will likely require home financing insurance, unless the home buyer is able to qualify for a VA home financing package.
Another important factor to consider is the home buyer’s debt-to-income ratio. Having a debt-to-income ratio within a certain range is likely to be one of the requirements to get approved for a particular home financing package, including the one offered through the FHA. Thus, it is also important to find out if the monthly payments that the home buyer is considering will not push the debt-to-income ratio beyond the approved range.
Another important question is whether the home buyer can qualify for a FHA or VA home financing package. It is also possible to take advantage of a down payment assistance program in order to afford a larger down payment that can reduce the monthly payments.
Louie Wickett - Mortgage Lender has been in the business for more than seven years and he takes great pride in providing his clients with the necessary education on the process of home buying or home refinancing. He is keen on developing strong relationships with his clients, allowing them to feel like family all throughout the process.
Those who are interested in learning more about the services provided by Louie Wickett - Mortgage Lender can check out their website, or contact them through the telephone or via email.
For more information about Louie Wickett - Mortgage Lender, contact the company here:
Louie Wickett - Mortgage Lender
2370 Northwest 128th Street
Urbandale, IA 50323