Financing

Pre-Approval - Your first step when buying a home!

Five Great Reasons to Be Pre-Qualified By a Lender:

1. Know your payments in advance
2. Save time on not searching for homes you cannot afford
3. Select the best loan package without feeling pressure
4. Satisfy the seller's concerns
5. Peace of mind

Financing

Depending on the price of the home and/or the amount of your down payment, there may be several options that fit your personal situation:

1. VA (for military veterans only)
2. FHA (Federal Housing Administration)
3. Conventional
4. Other Creative Financing including Owner Finance, First Time Home Buyer Programs, Loan Assumptions, and Lease Purchase.

Information your lender will ask (the information provided is confidential with your lender):

1. How much of your savings will go towards your down payment and closing costs, if any?
2. Your annual gross income (before taxes)?
3. Length of time with current employer and previous employer for the past two years?
4. Monthly long term debt payments (such as car payment) and credit card balances?
5. Child care expense and/or alimony?
6. Any credit issues or bankruptcy?
   

Mortgage Calculators

• Monthly Payments
• How Much Can I Afford?
• Rent vs. Buy
  

Davenport NOW

Anyone who constructs a new, owner-occupied home or a new commercial structure, except rental properties, will be eligible for a 50 percent rebate of the city's portion of property taxes for 10 years. Participants can choose from tax rebates each year or an upfront, lump sum rebate at the project's completion. Rebate good until December 2011.

Contact your Mel Foster Co. REALTOR® for more information or start looking at a neighborhood today!

Complete the Davenport NOW application

For more information or answers to specific questions, please contact your Mel Foster Co. REALTOR® today.

Quick Search Advanced Search Open House Finder

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