FINANCING A HOME
Let Us Help You Get The Credit You Deserve
TEAM LENDERS
DAVE BRYCE
Senior Loan Officer
19221 36th Ave W. #106 Lynnwood, WA 98036
Phone: 425-949-4068
Email: [email protected]
Michael King
Mortgage Loan Originator
275 E Rivulon Blvd, St 200, Gilbert, AZ 85297
Phone: (619) 944-1137
Email: [email protected]
NMLS# 1993915
Corp NMLS #181106
Equal Housing Opportunity
LUKE ZENDER
Senior Loan Officer
2600 SW Barton St, St A6, Seattle, WA 98126
Phone: (206) 963-7032
Email: [email protected]
NMLS# Â 1789061
WA CL 3182
Equal Housing Opportunity
MORTGAGE READY DAY ONE
In today's competitive real estate market, being mortgage ready from the start can give you a significant advantage. The Madrona Group and our trusted team of lenders, including Sean Antonius, Michael King, and Luke Zender, are dedicated to ensuring you are fully prepared to make your home purchase.
What Does "Mortgage Ready Day One" Mean?
Being "Mortgage Ready Day One" means you have been fully underwritten for a loan before you even start looking at homes. This process involves a thorough review of your financial situation, so you can submit offers that are almost as good as cash. Here’s why this is beneficial:
- Competitive Edge: Fully underwritten offers are more attractive to sellers, often resulting in a smoother and quicker transaction process.
- Confidence: Knowing your financing is secure allows you to shop with confidence and negotiate from a position of strength.
- Speed: Being pre-approved can significantly speed up the buying process, allowing you to move quickly when you find your dream home.
What type of loan program is right for me?
The many different types of home loans available can seem overwhelming when you are first considering financing a home. Whether you choose a fixed rate, adjustable rate, or government loan mortgage, there is no one-size-fits-all answer. Here are some questions to help you decide:
- Do you expect your financial situation to change over the next few years?
- If yes, an adjustable-rate mortgage (ARM) might be suitable, offering lower initial rates.
- Do you plan to live in your current home for a long time?
- If yes, a fixed-rate mortgage could provide stability with consistent payments over the life of the loan.
- Do you feel comfortable with the idea of a changing mortgage amount?
- If no, a fixed-rate mortgage would be preferable to avoid the uncertainty of changing interest rates.
- Do you want to be free of mortgage debt by the time your children go to college or you retire?
- Consider a shorter-term mortgage, like a 15-year fixed-rate loan, to pay off your home faster.
Loan Program Options:
A professional lender is an ideal resource to help you decide which loan fits your needs. Our team lenders are here to guide you through the process, ensuring you make the most informed decision.
Fixed-Rate Mortgage
- Benefits: Predictable monthly payments, protection from interest rate increases.
- Consider if: You plan to stay in your home for a long period
Adjustable-Rate Mortgage (ARM)
- Benefits: Lower initial interest rates, potentially lower payments initially.
- Consider if: You expect to move or refinance before the adjustable period begins.
VA Loans
- Benefits: No down payment, no private mortgage insurance (PMI).
- Consider if: You are a veteran or active-duty military personnel.
USDA Loans
- Benefits: No down payment, low mortgage insurance premiums.
- Consider if: You are purchasing a home in a designated rural area.
FHA Loans
- Benefits: Lower down payments, flexible credit requirements.
- Consider if: You are a first-time homebuyer or have a lower credit score.
Jumbo Loans
- Benefits: Financing for homes that exceed conforming loan limits.
- Consider if: You are buying a high-value property and need a larger loan amount.
