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National City Mortgage
Overview
Benefits of National City Mortgage
What is a Mortgage?
Fixed Rate Mortgages
Adjustable Rate Mortgages
Affordable Housing Programs
Additional Mortgage Options
New Home Construction Programs
The Benefits of Home Equity
Why Refinance With National City
Payment Options
Assistance to Keep Your Home
Assistance Option When Giving Up Your Home
National City Mortgage Insurance Options
Mortgage Life Insurance
Mortgage Pre-Approval
What You Need to Buy a Home
Application Process
Frequently Asked Questions
Glossary


Getting ready to buy a home

Buying a home is more than finding a pretty house that you like. It is one of the most important decisions that you will ever make. There are quite a few things that go in to successfully buying a home.

The first is to review your finances. The worst decision people make is to not consult their financial ability and then begin searching out of their price range. This only leads to disappointment either in the sense of finding a home you can’t afford and having to settle for something less than ideal or purchasing a home that you will ultimately have to give up because the payments exceed your financial resources. The first step in buying a home should be to initially conduct a review of your finances.

A general rule for determining the type of home you can afford is to spend no more than 30 percent of your gross income each month on your mortgage and the subsequent taxes and insurance. Pre-applications are also helpful in determining your affordability. It may also help in negotiations down the road.

Once you determine what you can pay for a home, you should start looking. We suggest using a real estate professional to help you navigate the ins and outs of buying a home and the bidding process. Their expertise will come in handy when searching for houses in your area, filling out the paperwork, negotiating the sale and knowing what to look for in a home and what can be a problem.

The next step is to begin the financing process. This is where National City Mortgage comes in. Our team of professionals will help you choose the right mortgage for your needs and let you know what information you will need for the application process. Our team will work with you from application to response and every step in between. We are not satisfied until you have the financing you need and have closed on the house of which you so magically treasured.

 

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