Yefrey Garcia - American Financial Network

Yefrey Garcia - American Financial Network Do you want help in the home buying process from A-Z, I can definitely do that for you.

I will not stop until we find you the best deal possible Mortgage Program. There are always new programs coming out that help buyers get into there dream homes.

PROFESSIONAL ADVICE IS IMPORTANTSometimes out of embarrassment or simply because we do not want a third party to interve...
10/27/2021

PROFESSIONAL ADVICE IS IMPORTANT

Sometimes out of embarrassment or simply because we do not want a third party to intervene in our process of buying a house, we refuse to get help from a professional. However, this is a necessity that you should not overlook. An experienced person can help you with all the paperwork required when buying a home. They will also help you choose the best housing option for you and your budget.

Once you have found a house that suits your tastes and needs, you may need to make a down payment to get a mortgage loan. Do not buy another expensive asset such as a car while you are thinking of buying a house. This could create an imbalance in your budget.
Investing in the purchase of a property requires effort, and above all, it involves money. Making this decision leads to different types of expenses. Not only are you going to invest in the purchase of the house, but you must also take into account the cost of the paperwork, the search, and the hiring of professional services for advice. It is 100% advisable to start saving beforehand to avoid any financial inconvenience when buying your new home.

Purchasing a home is easier than you think!!! We have a variety of programs that can tend to your needs. Give me a call for a free consultation at +1 (571) 719-0027

MORTGAGE LIFE INSURANCE (MLI)😳On the other hand, mortgage life insurance is put in place to protect the lender if the bo...
10/26/2021

MORTGAGE LIFE INSURANCE (MLI)😳

On the other hand, mortgage life insurance is put in place to protect the lender if the borrower happens to pass away before paying off all their mortgage payments. A borrower can also choose not to pay this insurance, but this involves a lengthy process of forms and waivers and potential risks.
MLI rates can either be a fixed rate or drop as the mortgage balance decreases. MLI may pay off the lender or the heir to the loan depending on the policy made beforehand.

Purchasing a home is easier than you think!!! We have a variety of programs that can tend to your needs. Give me a call for a free consultation at +1 (571) 719-0027

HOW DOES Mortgage Insurance WORK?Mortgage Insurance can function differently depending on the agreement you have in plac...
10/25/2021

HOW DOES Mortgage Insurance WORK?

Mortgage Insurance can function differently depending on the agreement you have in place. Either it functions as a regular premium payment, or a lump-sum payment made when the lender signs the mortgage agreement. Some borrowers do not have a choice and are made to purchase PMI if they have greater than an 80% loan-to-value ratio. However, this stipulation can usually be waived after the borrower pays off 20% of the principal balance.
There are four main types: Private Mortgage Insurance (PMI), Mortgage Life Insurance (MLI), Mortgage Title Insurance (MTI), and Qualified Mortgage Insurance Premium (QMIP).

Purchasing a home is easier than you think!!! We have a variety of programs that can tend to your needs. Give me a call for a free consultation at +1 (571) 719-0027

ESTIMATING YOUR CLOSING COSTSKnowing your costs will help you be well prepared during the process of buying your new hom...
10/24/2021

ESTIMATING YOUR CLOSING COSTS

Knowing your costs will help you be well prepared during the process of buying your new home. It is important that you also consider pre-calculating your costs. There are tools, such as the closing cost calculator, which can help you budget for anticipated expenses so you don’t have to pay unexpected fees.
You may be able to negotiate with the lender and save on some costs. You can also negotiate with the seller to pay a percentage of the closing costs since both parties benefit from these services.

Purchasing a home is easier than you think!!! We have a variety of programs that can tend to your needs. Give me a call for a free consultation at +1 (571) 719-0027

LOAN ORIGINATION FEES This refers to the costs involved in the approval process. The appraisal is used by the lender to ...
10/23/2021

LOAN ORIGINATION FEES

This refers to the costs involved in the approval process. The appraisal is used by the lender to verify you have the financial ability to repay the loan you are requesting. This evaluation consists of the analysis of several factors including your credit history and credit points. These costs vary according to the rates offered by each lender.

Purchasing a home is easier than you think!!! We have a variety of programs that can tend to your needs. Give me a call for a free consultation at +1 (571) 719-0027

Lower interest rates 😳Mortgage loans are loans that you commit to for the long term. They are usually paid off over 15 t...
10/22/2021

Lower interest rates 😳

Mortgage loans are loans that you commit to for the long term. They are usually paid off over 15 to 20 years. During these years, interest rates may vary. A situation could arise where at the time you were approved for your mortgage loan the interest rate was 12% and current economic conditions have caused interest rates to drop. This may be a good time for you to apply.

Purchasing a home is easier than you think!!! We have a variety of programs that can tend to your needs. Give me a call for a free consultation at +1 (571) 719-0027

CASH-OUT REFINANCING A cash-out refinance is when you take the accumulated cash out of your mortgage. That is, the amoun...
10/21/2021

CASH-OUT REFINANCING

A cash-out refinance is when you take the accumulated cash out of your mortgage. That is, the amount of money you have deposited for your mortgage payment from the down payment to the monthly payments you have made so far.
This type of refinancing allows you to withdraw that equity and use it to pay off other types of debts. Simply put, it allows you to obtain cash by increasing the principal balance of your mortgage.
Regardless of the type of refinancing you are interested in, you should know that not everyone is qualified to get a refinance. Depending on the lender, you have to meet certain requirements in order to get one.

Purchasing a home is easier than you think!!! We have a variety of programs that can tend to your needs. Give me a call for a free consultation at +1 (571) 719-0027

Choose Right, Not Just Easy😳DON’T just go the easy route and take a mortgage from your existing bank because it is more ...
10/20/2021

Choose Right, Not Just Easy😳

DON’T just go the easy route and take a mortgage from your existing bank because it is more convenient. Your bank probably already has some mortgage rates and offers available to clients, and you have checked those out. Still, while it might be simpler to take a mortgage with your existing bank, you should shop around more before making a final decision.

Purchasing a home is easier than you think!!! We have a variety of programs that can tend to your needs. Give me a call for a free consultation at +1 (571) 719-0027

Check Rates🤔DON’T accept the for rate offer you receive, as this might not be the best one out there. As a consumer, you...
10/20/2021

Check Rates🤔

DON’T accept the for rate offer you receive, as this might not be the best one out there. As a consumer, you have many options and should shop around for the best rates and offers from different lenders, including banks and mortgage lenders. Your rate will ultimately affect what you pay significantly, and you should pay attention to this carefully. Even if the offer is exciting, you should wait to hear all of the available offers out there before making a final decision.

Purchasing a home is easier than you think!!! We have a variety of programs that can tend to your needs. Give me a call for a free consultation at +1 (571) 719-0027

Check Your Credit😍DO check your credit score and make sure you understand your financial and credit situation. You shoul...
10/19/2021

Check Your Credit😍

DO check your credit score and make sure you understand your financial and credit situation. You should get a credit report from one of the credit bureaus and ensure that all of the information is accurate. You don’t want to apply for a mortgage and find out that something on your credit report is holding you back.

Purchasing a home is easier than you think!!! We have a variety of programs that can tend to your needs. Give me a call for a free consultation at +1 (571) 719-0027

MORE ACCESS, MORE OPTIONS😳Since a digital mortgage isn’t tethered to any one geographical location, there are many more ...
10/18/2021

MORE ACCESS, MORE OPTIONS😳

Since a digital mortgage isn’t tethered to any one geographical location, there are many more options when shopping around for lenders and rates. Particularly for underbanked and underserved communities, a digital mortgage is a great way to get faster access to more options. Online lenders also often have more features and tailored services available. Potential homeowners might be missing out on some of the services that a bank branch might provide, but the range of additional features helps a lot.

Purchasing a home is easier than you think!!! We have a variety of programs that can tend to your needs. Give me a call for a free consultation at +1 (571) 719-0027

BIG PAYMENTSOne of the things you will need to stomach if you get a 15-year mortgage is the larger monthly payments. The...
10/17/2021

BIG PAYMENTS

One of the things you will need to stomach if you get a 15-year mortgage is the larger monthly payments. The principal and interest payments on a 15-year fixed-rate mortgage can often be 505 higher than those of a 30-year mortgage. This means tying up a bigger portion of your income in your mortgage. If you are comfortable with putting more money into your housing costs, then this isn’t an issue at all. However, you should think at least 15 years down the road when considering this kind of mortgage because the ways out aren’t pleasant. If you can’t keep up with the higher payments, you will need to sell your house, refinance your mortgage, or the bank will foreclose on the home.

Purchasing a home is easier than you think!!! We have a variety of programs that can tend to your needs. Give me a call for a free consultation at +1 (571) 719-0027

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3302 Old Bridge Road Suite A
Woodbridge, VA
22192

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