Now that you have made an offer, your mortgage adviser can already prepare your mortgage application. So if your offer is accepted, you can submit everything immediately. With the Hilton Head Island SC homes you can have the best Choices now.
Advice and brokerage costs
A mortgage adviser requests a fee for mortgage advice and mediation. Compare different advisors, because the differences between them are large. For example, you pay twice as much as with me. This is largely due to handy online systems and because only have 1 office. With experts you pay 1,500 dollars for your first house, 1,700 dollars for your next house and 1,950 dollars if you are an entrepreneur.
Start collecting your documents
You cannot start early enough: collecting documents for your mortgage application. Professionals have listed the most important documents for you. Very handy, with professional help you can upload all your documents in an online dashboard.
Loan or donation an option for you
As you can see, with the 2 options above, you can raise your mortgage considerably without going for the rigorous option of a Generation Mortgage where the parents guarantee the mortgage. With a donation or loan, you will come a long way.
Want to know which option is best for you?
You can be a bit overwhelmed by the large number of mortgage options with the help of your parents. It does not matter. Advisers know everything about the different options. Do you want to present your situation in a personal introductory meeting?
Do you want to buy a house for the first time this year? Or do you want to move? Then you have to take into account a number of changes. Every year, changes are made to the laws and regulations about mortgages, which can affect your relocation plans.
Borrow more
Let’s start with good news: in 2019 almost everyone can borrow more than in 2018. This is because a wage increase of 2.9% is expected this year. This increases the average Loan to Income percentage. The LTI is the maximum amount that you can borrow for a mortgage, based on your income. This rise might just make the difference if you can afford that beautiful house with that large garden. Nothing will change in 2019 on the Loan to Value. That means that your mortgage may still not be higher than 100% of the home value.
Dual earners
As a result of the increase in income, many double-income households, like single people, can get a higher mortgage. Furthermore, little changes in this area: 70% of the second income can still be taken into account, just like in 2018. However, this will be increased in the coming years. It is planned that in 2023 both incomes will count for 100% for your mortgage.
NHG limit up and premium down
The cost limit for a mortgage with NHG (National Mortgage Guarantee) is, just like previous years, slightly increased. This is due to rising house prices, the NHG standard adapts to this. Whereas in 2018 the maximum mortgage amount to qualify for an NHG was 265,000 dollars, in 2019 this was increased to 290,000 dollars. The costs for a mortgage with NHG, the so-called bail commission, have also been slightly reduced. In 2018 you paid 1% of your mortgage amount. In 2019 this percentage is 0.9%.