Finding the right home for you and your finances

Finding-the-right-home-for-you-and-your-finances_1136_484141_0_14032600_500 The home buying experience can be one of the most exciting times in your life. But, if you’re ill-prepared, or unaware of your purchasing power, it can be fraught with financial difficulty and stress.

Accordingly, you can save yourself a significant amount of time and money (not to mention frustration) by following these tips for finding the right home:

Calculate your ability to buy
When planning to purchase a home, you should know your optimal price range – and try hard to not surpass that amount. Factoring your income against regular expenses can give you an idea of how large a monthly payment you can afford. Working with a trusted lender upfront will help as well. They will take all your information and come up with the price of the house you can afford and more importantly the number that the bank will lend you to purchase.

Cater home search to price range
You wouldn’t want to waste your time touring a house you can’t afford, would you? Doing so may only leave you upset and unsatisfied with offerings in your price range. Thus, you should make certain you only view properties you could potentially buy.

Choose a trusted lender
Unless you’ve saved enough money to make a cash purchase, you’ll probably finance the sale with residential lending. Borrowing from a trusted source can save you a significant amount of money and make the process easier and more enjoyable. At Poli Mortgage Group, our Loan Officers work around the clock to find clients low rates and lock in affordable payment plans. We’ve originated more than 40,000 mortgages in our 12 years of service, and are eager to help you secure yours. Call us today at (866) 353-7654.

Poli Mortgage Group is a Division of radius financial group inc. Corporate NMLS #1846. radius financial group inc. is an Equal Housing Lender. Poli Mortgage Group is licensed in CT, FL, ME, MA, NH. For more licensing information please visit: https://polimortgage.com/licenses/ or by visiting www.nmlsconsumeraccess.org. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. Programs rates, terms and conditions are subject to change and are subject to borrower qualification. This is not a commitment to lend. The content in this website has not been approved, reviewed, sponsored or endorsed by any department or government agency.

* This radius Pre-Approval/Credit Commitment Promise Contract ("Promise") is made and entered into, as of the date of the last signature below, by and between radius financial group inc. ("radius" or "Lender"), and the below-named Buyer and Seller. In consideration of Seller's reliance on this Promise in entering into a real estate purchase transaction with Buyer, the Parties agree as follows:

PROMISE TO SELLER. In the event that a Seller is induced to accept an offer from, and enter into a purchase and sale agreement with, a radius borrower on account of this Promise in connection either with (a) a radius Pre-Approval or (b) a radius Credit Commitment and the Buyer is unable to close on such Eligible Transaction due to a mistake made by radius (with accurate and up-to-date information) on such Pre-Approval/Credit Commitment (a "Bad Pre-Approval"), then radius shall pay Seller ten thousand dollars ($10,000), subject to the terms and conditions herein as Seller's sole remedy.

PROMISE TO BUYER. In the event that radius issues a Bad Pre-Approval to Buyer on an Eligible Transaction, radius will reimburse Buyer reliance expenses up to one thousand dollars ($1,000) for a home inspection, appraisal, or legal expenses actually paid out-of-pocket by Buyer, subject to the terms and conditions herein. This payment shall be Buyer's sole remedy.

ELIGIBLE TRANSACTION. For purposes of this Promise, an "Eligible Transaction" is a purchase money mortgage transaction for a primary residence (made on or after April 1, 2018) (not made to a radius employee or immediate family member), provided that the loan is a Conventional, USDA, VA, or FHA loan product for either (i) an existing home resale or (ii) a newly constructed home that is to be delivered and closed within ninety (90) days of the P&S.

CONDITIONS. The applicable radius Pre-Approval must not have expired prior to the date of the P&S. Offers/P&Ss cancelled due to home inspection issues or title defects are not covered under this Promise, and this Promise is void if a Bad PreApproval is the result of: (i) a change in Buyer's financial position, (ii) property specific requirements or expenses (e.g. homeowner's association dues/fees, flood insurance, or property taxes), or (iii) loan product availability or underwriting requirements, or third-party actions outside of radius' control.

FUNDS DISBURSEMENT. Any funds due and payable under this Promise will be paid if requested by Buyer or Seller in writing within 90 days of the date of an applicable Adverse Action Notice and accompanied by a fully-executed copy of this Promise. Any payments made under this Promise will be reported to the Internal Revenue Service by radius on a Form 1099-MISC or as otherwise required by then-applicable law. Please consult your tax advisor for any tax implications.

Finding the right home for you and your finances

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