Setting your Housing Budget Upfront is Key You might have an idea of the loan payment and mortgage you are comfortable with. It's always best to pre-qualify for a mortgage so you know exactly how much a financial institution is willing to lend you. In the pre-qualification process, you will find out: - Exactly how much home or land you can afford. - How much cash you will need for the down payment. - What the bank feels you can afford for a monthly payment. We help buyers pre-qualify for mortgages every day and have long term relationships with several lenders in the area. As you would expect, we will respect your privacy knowing this is your personal information, and we will not distribute it to anyone, other than to our preferred mortgage broker upon your request. Once you fill out the form, we will process your information and get right back to you! We can help you pre-qualify for your mortgage. It is easy and gives you an advantage over other buyers. 
Financing Your Home >Balloon Mortgages
In loan terminology a "balloon" is the unpaid loan balance that must be paid in full on a specified due date. Federal savings and loan associations are permitted to make balloon mortgages with as little as five percent down and monthly payments that are smaller than the amount needed to fully amortize the debt. On the due date, which may be only a few years after the loan was made, the balance must be paid off or the loan must be renegotiated. Balloon borrowers must be cautious and plan carefully to avoid overlooking balloon payment obligations. It is easy to be lulled into complacency by the easy monthly payment terms.
Today's complex economics have produced a wide variety of options for potential borrowers, who are often surprised by how much house they can afford to buy. Loan approval is ultimately in the lender's hands, but your real estate agent can help you to determine your real buying power.
|
| Q |
What is a "jumbo mortgage"?
|
| A |
The term "jumbo mortgage" currently refers to a mortgage loan in excess of $359,650, although the threshold amount may change as the market fluctuates. |
 See More Real Estate Trivia > |
|
|
Jonathan Creath
Capital City Sotheby's International Realty
13420 Galleria Circle, Suite A-105
Austin, TX 78738
Office: 512-610-3206
Mobile: 512-406-1086
Fax: 512-261-0009
jonathan.creath@sothebysrealty.com
With 37 blessed years of serving our client's needs, we look forward to offering that experience to you. Real Estate is a business of partnership in which our number one focus is partnering with our clients to exceed their desires.
www.creathpartners.com is brought to you by
Jonathan Creath
NUMBER1EXPERT™ in real estate for
Central Austin, Lakeway and Westlake, Texas Read Jonathan Creath's
Privacy Guarantee,
Terms of Service,
and
Free & Without Obligation Pledge
|
NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERT™ 
