10 Steps to Homeownership

Path to Homeownership

Looking for a new home? We can give you a step by step path to follow.

Most often a prospective homebuyer’s first question is, “How much can I afford?”  The answer many lenders provide better answers the question, “How much can I borrow?” Many lenders only consider what you are able to pay each month, then tell you how much you can borrow.

At Embrace Home Loans, we want to ensure we understand what is most important to you before answering the question.  We want to be sure that when you decide what you can afford, you have considered all of the other things that are important to you.  A smaller mortgage means more financial freedom, allowing you the opportunity to travel, plan for a family, save for college, plan for retirement or just feel safe with, and not overwhelmed by, your mortgage payment. A larger mortgage may make sense if a particular neighborhood is where you want to live or if certain amenities are still important to you after you have considered other financial goals.

While we can provide different financing options, only you can decide how much you are comfortable paying for your home each month if that payment puts you in a home that makes you happy. You are the only one who truly knows your financial situation and can determine exactly what you can afford to be comfortable with your new home, but more importantly, to live the life you want to live.  We will do our best to approve you for a loan amount that we believe, based on your credit, other debt and income, will be comfortable for you, but you are the only one who knows what your lifestyle entails to stay comfortable with your monthly payments.

Here’s a quick overview of the home buying process

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