Buying Your First Home Has Never Been Easier
The Better Way to Finance Your First Home
Frequently Asked Questions
How do I start the process of buying a home?
How much down payment do I need to buy a home?
Are loans available for lower income earners?
Can I qualify to buy a home if I have limited credit?
How do I start the process of buying a home?
Looking to simplify what first appears as an overwhelming task? The first thing to remember is that there are resources available to help you each step of the way:
Get a Certified Pre-Approval: This helps you understand how much you can afford before you actually start looking for a home. It also carries far more weight than a pre-qualification in the eyes of a seller and can help you effectively compete against a cash buyer.
Find a Real Estate Agent: Find a Buyer’s Agent or Realtor who covers the community in which you’re looking to purchase. (The term Realtor means they are real estate agents who subscribe to the code of ethics of the National Association of Realtors). An agent advertising a property or working at an open house is likely a “Listing Agent” and represents the seller. But a Buyer’s Agent works just for you, the buyer. You always want someone representing your unique interests in such an important transaction.
Start Looking for Homes: Once you’ve secured your Certified Pre-Approval and have a Realtor, start shopping in your budget range, either through your agent or the Internet. Decide on your priorities: number of bedrooms, bathrooms, preferred location, size of property and styles of home. Compare neighborhoods, school districts, value for money. Look at as many homes as you need to before making the decision to buy. A great local Realtor may also know about homes that aren’t even on the market yet.
How much down payment do I need to buy a home?
There are programs that require as little as 3%-5% down and based on your overall credit profile, income and assets, you may be eligible. Some programs allow part of that amount to be gifted. Speak to a Mortgage Advisor to discuss your unique situation.
Are loans available for lower income earners?
Yes, there are many programs and products available for low-to-moderate income earners including down payment assistance programs. Ark Mortgage specializes in helping such earners become homeowners!
The Better Way to Finance Your First Home
Low Down Payment
We offer a variety of loan options for buying your home that require little to no money down for a down payment.
Finding The Right Home
Our Certified Pre-Approval is guaranteed in writing for at least 60 days, so you can spend more time finding the perfect home.
Increased Buying Power
Armed with an underwritten pre-approval, your offer will be considered more seriously by the seller.
Start Building Wealth
Every payment you make towards your home loan, you’ll be adding to the growing equity in your home.
Peace of Mind
Our Lifetime Guarantee allows you to refinance for any reason without any origination or appraisal fees.