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Three best home finances that you should know

Three best home finances that you should know

They say “home is where the heart is”. Home is our place of comfort, our place of relaxation. As such, it should not add to our burdens with the thoughts of meeting the rent, making ends meet and the house being a factor to be worried about. It is a dream to be able to have our own house, one we can be extremely happy and satisfied with. However, there is a good possibility that one may not always be able to afford it. According to research, the median listing price for houses in the market is around $250,000. This is where the home buyers can smartly choose for a mortgage. However, it is also absolutely important to find yourself a right mortgage along with the right property. Given that you find the right home lenders and mortgage plan, you can save yourself thousands of dollars. Here are some of the best home financing companies in the market:

  • Bank of America
    It is best suitable for people who would like to apply online. They would require a quick approval and are enrolled for the preferred rewards program of Bank of America. It also offers the existing clients enrolled in this program an initial discount of around $200 to $600 off origination fees. Their home loan navigator acts as the perfect guide for you to get through your application.
  • CitiMortgage
    It is a known fact that if one requires a down payment of less than 20 percent of the value of the house, then one absolutely needs to have mortgage insurance. But that is not the case with Citibank’s HomeRun program as it allows one to buy a house with a down payment of as low as 3% of the sales price without the need of mortgage insurance.
  • Guaranteed Rate
    This company is known for charging a low APR on fixed-rate mortgages. Wide varieties of loans like FHA, VA etc. are available. The online application can also provide suggestions on the basis of your financial status.
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