Buying Your First Home Has Never Been Easier
Buying your first home is both a bold, new phase of independence and a time of careful contemplation. You’re negotiating the most significant purchase of your life, and you shouldn’t have to do it alone.
Ark Mortgage can simplify the finance process to help you transition from tenant to homeowner. We customize the best loan type, make sure you sign on the correct line at closing, and everything in between. Our Personal Mortgage Advisors are here to help you through the process.
Many of our loans close in 30 days or less – so the home of your dreams is never too far away. When you’re ready to become a homeowner, we’re here to help.
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?
Take it step by step:
Get a Certified Pre-Approval: This helps you understand how much you can afford before you start looking for a home. It also carries far more weight than an ordinary 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 knows 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. On the other hand, a Buyer’s Agent works just for you, the buyer. You always want someone representing your unique interests in such an important transaction.
Start House Hunting: Once you’ve secured your Certified Pre-Approval and have a Realtor, start shopping with your agent or on the Internet. (A good local Realtor may also know about homes that aren’t even on the market yet.) Decide on your priorities: budget, 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.
How much down payment do I need to buy a home?
There are programs that require as little as 3%-5% down. Your eligibility is based on your overall credit profile, income and assets. Some programs allow part of that amount to be gifted. Speak to a Mortgage Advisor to discuss your 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.