Refinancer - The Home Mortgage Group

	If you have owned a home before then you have a good basic knowledge of the ins and outs of buying a house. The basics have remained the same but there have been a lot of recent changes to the processes so please take the time to re-educate yourself. We have put together a few tips to help you along the way to buying your next home.

Things to Consider

Get a pre-approved mortgage. This will help you determine the maximum mortgage you qualify for and will allow you to explore different financing options that will help you save money on your new purchase. Issues to discuss at this point are penalties to get out of an existing mortgage, porting vs assuming a mortgage, current mortgage rates and minimization of fees. You can do all of this by clicking here to contact an HMG Mortgage Specialist.
Find a good lawyer. Find out what they will charge to act on your behalf. Typically they will charge a fee + disbursements. The disbursements add up very quickly so get an estimate of the total cost of their services.
Find A Good Real Estate Agent. You may need to deal with an agent for the sale of your existing home and the purchase of your new home so make sure you choose someone you can work with. Contact an HMG Mortgage Specialist and we will steer you in the right direction. We have built solid relationships within the industry.
If you are buying a resale home ALWAYS have a home inspection completed! For a few hundred dollars a home inspector will view the home with you and point out any problems they might see with the house.
Builders sometimes bury extra costs into their offers, ALWAYS have your lawyer review the Offer To Purchase before you sign on the dotted line. Your lawyer will point these out to you and quite often you can go back to the builder and negotiate these costs out of the offer.
When you are buying a house the key word is negotiate! This is a great time to haggle, you can save yourself thousands of dollars without much effort.
Consult an HMG Mortgage Specialist about your financing needs! A good broker will save you money and help you avoid the headaches involved in dealing with your bank.

Click here to contact a trusted HMG Mortgage Specialist.

If you follow some of these basic tips you are bound to enjoy your new home! Good luck!

Poor Credit History?

You were foolish with your money when you were younger, went through a messy divorce, had a small business failure, lost your job or maybe you were attacked by aliens. Bottom line is you have a poor credit history and your bank won’t give you a mortgage. Sound familiar?

What to do?

You need HMG's help! We can show you what you need to do to get the mortgage approved. There are several lenders who specialize in this sort of lending but you won’t find them on every street corner. There are private lenders, Trust companies and even some banks that will take a good look at your situation and will approve your application if the deal makes sense. We have those solid relationships in the industry and are well-known for our quick turnaround.
Even if you were just discharged from a bankruptcy, there are still options available to you.

Self Employed

Are you an entrepreneur? It’s a great time to be the boss!
It’s a great scenario until you try to borrow some money from the banks!

The banks will ask to look at your financial statements and personal tax returns for the last two or three years. They will quickly look at your net taxable income and average that income over a couple of years. If you are like most small business owners your net taxable income is very small and the bank tells you that you don’t qualify.

Fortunately there are alternatives. There are lenders out there who recognize that most small business owners are hard working and dependable people. There are some institutional lenders that will lend you up to 75% of the value of your home as long as you can demonstrate a good credit history. Private lenders may lend you even more depending on your overall financial situation.

Bottom line is that there are options available to you and we can find them!

Click here to contact a trusted HMG Mortgage Specialist.