Yes you may. If you have a good credit score then we can find you mortgage programs with low down payments (5% to 15%). However, lenders may require you to purchase private mortgage insurance (PMI). Also, you may be required to pay slightly higher interest rates and mortgage points.

Assuming you can afford (and qualify for) high monthly mortgage payments and have a high credit score, you should be able to find a low (5% to 15%) down payment loan. However, you may have to pay a higher interest rate and loan fees (points) than someone making a larger down payment. Also, if you put down less than 20%, you may have to either pay for private mortgage insurance (PMI) or, to avoid PMI, take out two separate loans (a first mortgage and a second mortgage).

Extent of mortgage that you can comfortably afford depends on a number of factors such as your income level, value or property to be mortgaged, existing mortgage balance (if any), credit ratings, etc. Use our online mortgage calculators to simplify your calculations.

In many situations, if you have been laid-off from your job and not able to obtain employment, you may be able to get your mortgage company to suspend your mortgage payments for a period of time. Or if your new job pays less than your former job, you may be able to get your mortgage company to modify the mortgage to lower your payments. Back to top

For most homeowners, the monthly mortgage payment includes three separate parts ? A payment on the principal of the loan (that is, the amount borrowed) ? A payment on the interest ? A payment into a special account (called an escrow account) that your lender maintains to pay for things like your hazard insurance and property taxes.

Answer: Good question! If you have everything with you when you visit your lender, you'll save a good deal of time.

If you are unable to meet the amount of the payment agreement you may request a licensing hardship. Once received CSSD can review to possibly lower the payment agreement amount. Please note that we still have to collect the monthly support, interest and a payment towards the arrears. If you would like CSSD to consider lowering your monthly support obligation, you will need to request a modification.

You'd be surprised how much this varies from one client to another. It depends on how you live, what your other obligations are, and what your income is today and what you expect it to be tomorrow. A decent rule of thumb is keeping your monthly house payment (including taxes and insurance) under one-third of your gross income. Having said that...PLEASE don't try to figure it out yourself. Let us.

Prepaying your mortgage is extremely inexpensive and you are never obligated to start or continue. Make prepayments whenever you'd like and watch your small prepayment eliminate a full payment from your mortgage instantly.

How much mortgage you can afford depends on a number of factors such as your income levels, your debt to income ratio, value of property to be mortgaged, etc. It is advisable to get pre-qualified with a reputable mortgage lender to find how much mortgage you can afford. Make use of our mortgage calculators to simplify your calculation.

How much you can afford depends entirely on your specific personal financial situation. Our loan consultants can help you find out exactly what that amount may be. For a quick estimate, use the Loan Calculator conveniently located on our website.

The best way is to speak with a mortgage specialist early in the homebuying process. Learn more about getting pre-approved in the Mortgage section of this site.

Assuming you can qualify for higher monthly mortgage payments and have an excellent credit history, you should be able to find a 0-15% down payment loan. However, you may pay a higher interest rate and loan fees than someone making a larger down payment.

Answer: Well, of course you'll have your monthly utilities. If your utilities have been covered in your rent, this may be new for you. Your real estate broker will be able to help you get information from the seller on how much utilities normally cost. In addition, you might have homeowner association or condo association dues. You'll definitely have property taxes, and you also may have city or county taxes. Taxes normally are rolled into your mortgage payment.

Mortgage payments consist of costs for principal, interest, property tax, hazard insurance, and mortgage insurance. The principal is the amount of money you borrowed. Each month when you make your mortgage payment, you are paying back a small portion of the principal. The longer the payments are amortized (over 30 years for example), the more the payments go to reduce the principal you owe; over time, interest will become a smaller part of your monthly payment.

The beginning of the second month after you close. If you close on May 1st your first payment is due July 1st. If you close on May 30th your first payment is still due July 1st. You don't really skip a month even though it looks that way. Your July 1st payment actually pays for all of June (unlike renting, where your July rent pays for all of July).