Purchase

Purchase a Home Today


Are you looking for a mortgage loan? We will be pleased to assist you. We can be reached at (603) 893-6616. Interested in getting started? Click here to apply.

What is your budget?

Choosing the amount of house you can afford is a very personal decision. There are several factors to consider. What is my borrowing capacity? How much can I contribute to a down payment? How much can I afford in monthly payments?

The answers to these questions are not black and white. A balance must be struck between giving and taking. In the case of a 30-year mortgage, you may be able to make a smaller down payment (or no down payment at all) while still managing the monthly payments. On the other hand, if you are planning to take out a 15-year mortgage, you may wish to make a larger down payment in order to maintain your monthly payments within your budget.

What is the most I can afford to put down?

Most buyers view their cash on hand as their only source of down payment. In reality, this is not true. Gifts may be used as a means of funding or partially funding a down payment. In many cases, parents, grandparents, and other family members are eager to assist by donating money toward the purchase of a home.

There are also charitable organizations that provide down payment assistance. Of course, if you are selling your home, you can apply the equity you have built to your down payment.

This is not the only option available to you. We can assist in exploring all of your down payment options, including low and no down payment mortgages.

What size monthly payment can I afford?

Considering other monthly expenses is important when it comes to determining the amount of your monthly payment. Car payments, day care bills, and utility bills all contribute to how much you can afford in a monthly payment.

There are also intangible expenses such as lifestyle expenses that you should take into account. When you buy a new car, expenses such as dining out, travel, and traveling can affect your budget. In order to afford a larger monthly payment, are you willing to curtail or delay some of these expenses?

How much money can I borrow?

If you're in the market for a new home, you should have this question answered before you start searching. We're here to help with that. Calculating your down payment, monthly payment, and the amount you borrow will be easier with our mortgage calculators.

If you need help with the mortgage process, we can assist. Our best course of action is to get you prequalified for a mortgage loan. Contact us or apply online by calling 603-893-6616. Let's work together to make your dreams a reality.

Questions about loans? Contact Omni today at (603) 893-6616!

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