Don’t I need to have money for a down payment to buy a house?
Not necessarily. There are many down payment assistance programs currently available where most of your down payment is actually granted to you! That means that you aren't responsible for most of the required down payment. There is also the chance to avoid a down payment altogether if you, like the majority of our clients, qualify for 100% financing. That means that we can get you a loan for the entire amount of the home, so you don't have to put any money down!

What if I had a bankruptcy in the past or am in bankruptcy now?
Not a problem. We can do financing if you have been discharged from Chapter 13 or Chapter 7 for just one day!

What about late payments and collections on my credit?
Late payments and collections can be overlooked to qualify you. We look at the whole picture and take a common-sense approach to approving you for a loan. Many lenders look for reasons NOT to do your loan; First Source Financial USA looks for reasons TO do your loan. The best way to see if there is a program that fits your circumstances is to spend a few minutes on the phone with one of our qualified loan officers.

What if I receive a lot or most of my money from tips?
There are many programs designed for borrowers in this position, and we are experts at these programs. Many loans in our portfolio are “no income” qualifiers, where only the credit report is taken into consideration. If your credit report is not as good as it could be, we have other “stated income” programs, which use documents such as bank statements, to prove your income level and qualify you for the loan.

How much are closing costs when I buy a house?
Typical closing costs including lender fees, title fees, taxes and insurance are approximately 3% to 3.5%.

What kind of rate can I expect?
Interest rates depend on your whole credit picture. If you have “A+” credit (nearly perfect credit), you can expect the most competitive rates in the industry. If you have “B” credit (slightly less than perfect credit), you can expect the most competitive rates in the industry. If you have “D” credit (some issues with late payments, past-due accounts, etc), when we qualify you, you can expect the most competitive rates in the industry.

Why should I get pre-qualified for a loan?
With current market conditions, homes are selling in a matter of days after they are put up for sale. If you are not pre-qualified and do not have a pre-qualification letter submitted with your offer for a home, you will not receive serious consideration. With three or four buyers at a time lining up to purchase homes, Realtors are only accepting the strongest offers; the strongest offers are those that are submitted with financing already taken care of.

How do I get more information and/or get pre-qualified for a home loan?
We havesenior loan officers available to answer your questions, walk you through the pre-qualification process and actually pre-qualify you in a matter of minutes, so you can take the next step in purchasing the home of your dreams!

Please contact us today:

Email: loans@millionsaver.com

You can find out over the phone in five minutes how big of a loan you can qualify for. There is no cost!