The 3 Basic Loan Types

Mortgages are confusing. What we do here at o2 Mortgage is take that complicated process and break it down, so that it is easy to understand.

 

One of the decisions that you will have to make is which type of loan you want. In general, there are 3 basic loan types that you will be choosing from. This PDF will go through each of these loan types and provide the advantages that each of them presents.

 

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The Scenario

While you may understand the why’s, how’s, and when’s of mortgages, we believe that it is beneficial to look at a real-life scenario.

Learning the information that has been presented to you (such as rates, down payment, tax benefits, forced savings plan, etc…) is important. As important, if not more, is the ability to apply this information to a scenario to see its real life applications.

This PDF will walk through one arbitrary scenario to help you understand the mortgage process.

 

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I Can’t Afford My Dream Home

One of the biggest concerns that we hear from our clients is that they believe that they cannot afford their dream home.

 

We believe that there is a path to each individual’s dream home. We want to make sure you are ready to make and offer on that home, whether that be right now or in the future.

 

With this PDF, you will be able to learn what you need to do to afford your dream home.

 

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I Have Less Than Perfect Credit

Credit is one of the three big parts of getting approved for a mortgage. If you do not have the best credit score, it is not the end of the world. We are here to help you analyze your current situation and provide the best advice.

 

This PDF will walk through the different options that you have if you have less than perfect credit.

 

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The Purchase Process

We want to provide complete transparency, to help you understand this beast that we call the purchase process.

In this way, you will be able to take a birds-eye view of the typical purchase process.

With this PDF, you will be able to understand the steps that you will go through when you are working with your mortgage lender, hopefully us!

 

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I don’t have enough down payment

“I don’t have enough down payment”. This is a common concern that we hear from our clients and friends. While the common belief is that you need 20% down to get a mortgage, this is far from the case.

 

We would love the chance to review your current financial situation with you and see what your options would be. Even if you are currently unable to buy, we want to create an action plan to help you purchase in the near future.

 

This PDF will walk through this common concern, and what your options are.

 

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How Can I Time the Market?

 

In this PDF, we discuss the reasons why attempting to time the market is not in your best interest and may end up hurting you.

 

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What You Need

Make sure that you understand the entire loan process. We want you to be able to understand what you need, so you are prepared for your purchase. There are a few key areas that mortgage lenders look at, to make a judgement on whether they are able to lend to you.

 

This PDF will walk through the different items that lenders look at to further prepare you for the whole loan process.

 

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I Can’t Afford to Buy

One of the most common concerns that we hear is that our clients cannot afford to buy. Majority of the time, this statement simply isn’t true.

 

This PDF goes through this particular dilemma and the reasons behind why it isn’t true. Make sure that you understand all of the details surrounding owning a home to see if you can “afford to buy”.

 

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