Money For Lunch – Will You Come Home to the Right Loan?

Will You Come Home to the Right Loan?

July 26, 2016 10:34 AM0 commentsViews: 44

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You have that home of your dreams just sitting out there. The only thing missing is that small little thing called money.

Before you go into deep despair, take heart, there might be opportunities for you after all to land that home you always wanted.

For many Americans, their wallets or purses just don’t have enough green in them to pull off buying that dream home. Instead, they are left to settle for something that is oftentimes far less than what they truly wanted.

That said there are options on the table, options that might just get you into that home you wanted when all is said and done.

So, will you come home to the right loan?

Explore Your Options

In order for you to enhance the chances of landing the home you truly want, remember these tips:

  • Research your options – First and foremost, make sure you do as much research as possible, leaving no stone unturned in your search for the perfect home of your dreams. Much of that research can be done via two sources that are much closer to you than you may think, family and friends and the Internet. With the former, some of them can pass upon their experiences when they were in need of the perfect home loan. They might even recommend the best loan provider to turn to, giving you an inroad that you may not otherwise had. As for the latter, the worldwide web is a great resource, one that you should use to your full advantage. Whether you are in need of a jumbo mortgage or another type of home loan, the Internet can be a wealth of information, information you can discover while sitting in the comforts of your current residence. With a jumbo mortgage (if you need one), you can still go after a home exceeding federal standards (conventional conforming maximum sits at $417K). No matter the size of the loan you seek, research the worldwide web from A-Z to see what best suits your needs;
  • Your financial history then and now – The other important facet of the jumbo loan approach is being able to show you have a worthwhile income, one that demonstrates your ability to have a regular flow of money coming in. Alongside that income, you need to demonstrate that your monthly expenses are not a major issue as they relate to what you bring in each month via work. Lastly, a strong credit report will certainly enhance your ability to get such a loan. Before applying for a jumbo loan, make sure you take the time (this is not something you hurry through) to go over your finances from head to toe. If your income is not what it should be, look around to see how you might be able to bolster it. It just might turn out to be that now is not the time for you to make a bid for an expensive home, so don’t feel it is all or nothing. As for your credit history, you have hopefully been tracking its results for a number of years now. If you haven’t, change that line of thinking moving forward. As more and more consumers are discovering, one’s credit history is playing a bigger role today in everything from buying a home to purchasing auto insurance. Given the fact more companies are looking at one’s credit reports before loan money or issuing various policies, it pays to know what is in your credit report, how to improve your credit score over time, and why it is crucial that you avoid running up large amounts of credit card debt.


Coming home to the right loan is important on a number of fronts, notably making sure you have the financial resources available to get the home you truly desire.

If you are buying your first-ever home, the experience of going through loan applications and all that goes with a new home experience can seem a little daunting at times.

It certainly does not hurt to do as much research as possible, plus ask for assistance from those who have been down this road before time and time again.

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