Buying a home can be a dream come true or a nightmare and that all depends on who you choose for your home mortgage needs. At PrimeSource Funding we take great care when handling your home financing.
Starting with your Free Pre-Approval Letter to the closing table we will make every step of the transaction quick and effortless. With access to the best lenders available in today's market, we will always be able to offer the best rates, terms and closing costs available.
Good credit, or not so good credit... Contact us for your No Cost Mortgage Evaluation and start looking for your new home today.
Ready to purchase a home of your own?
Did you know? - Most Realtors will not accept an offer on a home without being pre-approved for a mortgage loan first. Start with a Free Pre-Approval Letter Request.
Know if you qualify for a mortgage before you start looking for a house.
Is your credit in order? Do you need a down payment? If so, how much of a down payment do you need? Do you have sufficient income to buy the type of house you have in mind? These are just a few of the questions that need to be answered before you start looking for a home. Don't spend all weekend or several weeks looking for the perfect house if you don't know for sure if you can get the mortgage? Get Pre-Approved for a mortgage before you start your home search.
You need to know how much you can safely afford.
Your Realtor can tell you everything about every house that is for sale in the neighborhood you like, but they don't have access to your entire financial picture such as income, assets, employment history, etc. The most common mistake that home buyers make is they try to buy too much house. Know what mortgage you can safely afford before you start looking for a home.
Most Realtors will not allow you to make an offer on a house without being Pre-Approved for a mortgage first..
Most Realtors will require a mortgage "Pre-Approval Letter" from a Lender prior to putting in an offer on a house. Make sure you have everything you need to make a bona fide offer before you ask a Realtor to start showing homes.
Having a mortgage arranged first puts you in a much better negotiating position with sellers.
With so many good deals right now, don't find yourself scrambling to arrange a mortgage after you've made an offer. Whatever the case may be whether there are multiple buyers interested in the same property or your dream home has a motivated seller looking to move quickly, having a mortgage already arranged gives you the upper hand while negotiating with the seller. Ensure you have every available advantage, Get Pre-Approved for a mortgage before you start looking.
Get expert advice on the best way to structure your offer to suit your personal financial situation.
Should you ask the home's seller to pay for your closing costs? Should you seek down payment assistance? Do you have money to start an escrow account or should you also ask the seller to pay for that as well? We know your finances and can help you structure your offer to your advantage. Arm yourself with as much information as possible before you seek the assistance of a Realtor.
The Buying Process - How Does it Work?
Get Pre approved ••• You'll make a great choice getting pre approved with PrimeSource Funding! We do not charge an origination or underwriting fee and we guarantee the lowest interest rate available to you. In addition we are very reputable in the community and have a knowledgeable staff that will negotiate the best terms for you. It is company policy to never be undersold!
Find a home ••• Make sure to take advantage of all the available options for finding homes on the market, including using your real estate agent, searching for listings online and driving around the neighborhoods that interest you in search of for-sale signs. Also put some feelers out there with your friends, family and business contacts. You never know where a good reference or lead on a home might come from. Ask us for a referral if you are looking for a great real estate agent.
Make an offer and sign a purchase agreement ••• Your real estate agent will help you decide how much money you want to offer for the house along with any conditions you want to ask for, like having the buyer pay for your closing costs. We recommend asking for seller paid closing costs. Your agent will then present the offer to the seller's agent; the seller will either accept your offer or issue a counter-offer. You can then accept, or continue to go back and forth until you either reach a deal or decide to call it quits. If you reach an agreement, you'll make a good-faith deposit. The seller then takes the house off the market with the contractual expectation that you will buy the house - provided you don't find any serious problems with it when you inspect it.
Obtain a home inspection ••• Even if the home you plan to purchase appears to be flawless, there's no substitute for having a trained professional inspect the property for the quality, safety and overall condition of your potential new home. If the home inspection reveals serious defects that the seller did not disclose, you'll generally be able to rescind your offer and get your deposit back. Negotiating to have the seller make the repairs or discount the selling price are other options if you find yourself in this situation. Once you are satisfied with the inspection it's time to obtain the mortgage with PrimeSource Funding on your side!
Sign the Application and Buyer Disclosures ••• Once the home inspection comes back satisfactory we will provide you with the application and some paperwork educating you about your rights as a home buyer. The typical turn time from start to finish is 30-45 days. Once those documents are cleared with our lender we can close on your home!
Close on your new home! ••• Closing basically involves signing the final paperwork. The final terms are reviewed and you become a homeowner. It is really that easy.
Stop in to visit with one of our mortgage loan experts today.
We are conveniently located at:
1751 N. Victory Drive Suite 500
2876 Superior Dr. NW Suite 102
Rochester, MN 55901
Or call to schedule an appointment
Other Loan Products
- Fixed Rate Mortgage (FRM)
- Adjustable Rate Mortgage (ARM)
- Refinance Mortgage (Refi)
- Home Purchase Loan
- Cash Out Loans
- Home Improvment Loans
- FHA & VA Mortgage Loans
- FHA Streamline Refinance
- Rural Housing Mortgage
- Debt Consolidation
- Income Property Loans
- Competitive Pricing
- Excellent Customer Service
- Zero Money Down Programs
- 10, 15, 20, 25, & 30 year terms