Outdoor Entertaining Hacks You Need This Summer
For a first-time homebuyer financing a new home build can be intimidating. You probably have loads of questions, and before you scour the Internet and decipher which “financial pro” has all the answers, we’ve created a simple guide from our internal financing team. Why listen to their advice? Because they really care.
Our M/I Financial (MIF) Team ensures that all your important financial questions are answered and you are put at ease during the process. They will be that guiding hand providing you with all the information and questions you might have.
Top Financing Tips to Owning Your New M/I Home
So how do you finance a new construction home? To make your first home buying process a little easier, we have put together tips on what you should look at before purchasing a new home. Committing to these will not only alleviate your financial burden in the future, but will also make the whole process seamless and stress-free, getting you into your new home before you know it!
- Stick to your budget
- Have a savings plan
- Pay debt on time
- Make sure you have a payment history (yes, that means tightening your belt and paying off your credit cards or car payments!)
- Thinking of closing a credit card before you go purchase a home? STOP! Canceling your credit cards will bring your credit score down, so simply make you payments on time.
- Consider paying off those lingering student loans, too.
- Save for a down payment
- Work with an experienced Mortgage Associate
- Needs to be an advocate
- Should work with you to save on your mortgage rate
- Determine how much home you can afford
- Determine your debt to income ratio and cash flow
- Create your wish list
- How beds and baths do you need?
- Where do you want to live?
- What are nice-to-haves, but not musts?
- What is your current comfort level?
- What could be improved?
- Save important documents
- W-2
- Pay Stub
- Any documents for down payment example car, apartment, and credit card
How to Comfortably Finance Your New Construction Home
Viewing your credit score from a third-party company is great! However, when it comes to viewing your credit score on a mortgage level, it can be a very different. Mortgage level credit scores tend to be below what a third-party company shows.
With our M/I Financial Team, you will have the option for various payment methods that fit your comfort level, whether it be regarding a higher mortgage rate or what type of down payment you can afford.
Our team will also be here to help you with the pre-approval process. You can learn how to apply today here.
Why M/I Financial?
So, why choose MIF for your financing experience for your new build home? Here are a few of the many benefits you’ll find with us.
- You can stretch your buying power with various incentives and options
- M/I Financial proudly offers below-market rates
- With a 96% Customer Satisfaction rate, you’re sure to love working with each member of the M/I Financial team
- Enjoy peace of mind while building your dream home with a Protected Rate
- M/I Financial works closely with the builders to ensure you get in your home on time
- Experienced staff with decades of experience makes sure your experience is effortless
- Because M/I Financial works closely with M/I Homes, we can lessen your stress by shortening the time between approval and construction
- M/I Financial puts all their focus on the buyer to make sure your experience is as tailored to you as possible
Find out more about how we can find the perfect financing program for you and view current incentives.
Take a breath of relief! Your new M/I Home is in good hands. We’ll be here for everything you need, and we’ll always treat you right. Welcome to Better with M/I Homes!
Recommended Stories
Take a Peek Inside Our Brand New Design Studio in Columbus, Ohio
