This post was sponsored, and paid for, by SunTrust. All opinions are my own.
Buying a home is fun, exciting, and stressful all in one! And if it’s your first time ever doing it, it’s even more overwhelming! I remember the first time we bought a house, it was so scary! I was so excited to start working on our dream, but when you’ve never done it, there’s so much to do and check on, you need a little direction from someone you trust.
We had a great realtor and mortgage company that helped us through the process but there were a lot of decisions to make along the way. And we wanted to make sure we were getting the best interest rate, home and neighborhood in the process.
Having a great mortgage company or bank is key to making sure you’re getting the best help you can get. One that is top of the list is SunTrust Mortgage.
SunTrust Mortgage dedicated to making sure their customers are taken care of. And you know by the name that they’re a trusted company to work with! That’s a very good thing!
Buying a home is an important process, but certainly not a simple one – SunTrust onUp movement is about having the confidence to move forward—one smart step at a time.
Owning a home is one of the largest financial milestones and with understanding comes confidence.
At SunTrust Mortgage there’s a team of experts that are committed to helping future homeowners find a mortgage that fits their life. They provide the resources and tools to help inform borrowers who aspire to become homeowners or are looking for their next home.
Need a few tips on buying your first home?
5 Simple Tips for First-Time Homebuyers
1. How Much Can You Afford? One of the first steps is figuring out the size of mortgage you can afford. A rule of thumb is to look at houses that are 2.5 times your annual salary. Ideally, your monthly housing payment shouldn’t be more than 28 percent of your gross household monthly income. Use an online mortgage calculator to help figure out what you can afford.
2. Financial History Your financial history is important too. Lenders look at income, assets, job history, credit score, total debt and how much you’re willing to put down as a down payment.
3. Down Payment The traditional estimate for a down payment is 20 percent of the purchase price of the house, which can lower your monthly payments and avoid mortgage insurance better than a lower down payment.
4. Closing Costs Remember that closing costs can add to the amount you need to close your loan and take possession of your new home. Look them over carefully, because they can vary from one lender to another.
5. Financing Mortgages come in all shapes and sizes, and which one you choose depends on a lot of variables, including your budget, the amount you can afford to put down, the interest you’ll pay and the term length. All mortgages have pros and cons, but starting with at least a top-line understanding of what’s available is important as you save for this major purchase. Check out the SunTrust Mortgage Website for more information!
At SunTrust Mortgage, we make it a priority to learn all about your unique circumstances. Confidence starts with a conversation.
Talk with a SunTrust Mortgage expert today.
This post was sponsored, and paid for, by SunTrust. All opinions are my own.
