What’s Right For You?

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CHARLOTTE – When it comes to financing a home there are many different types of loans.  In the past, we have spoken about VA loans for veterans, USDA loans for individuals outside of city limits, FHA loans, Conventional and more. Therefore, the most important question one should ask, or their loan officer should ask, is what is the right loan for you?

When answering this question there are always a few common questions that come to mind, and one should even ask themselves.  Those are typically the following:

  • How much money does one have to put down?
  • How long does one believe they will live in the home for?
  • How long does one plan to have the mortgage for (i.e refinance, pay off, etc.)?
  • Do we think rates will go up, or come back down?

The reason these questions are so key is because if someone has a large amount of money to put down then a conventional loan will more than likely be the best option.  If the client believes they will payoff (or refinance the home early), then maybe a shorter-term loan, rather than the standard 30 years, of 15-20 years (which yields a better rate of interest) would likely be the best option.  On the contrary, if someone wants to put down a minimal down payment and they want to increase their qualification on a home, FHA may be the best option.

All in all, if you have any questions, as to what may be best, feel free to call/text/email anytime! brandon.wolf@primisbank.com or (704) 430-6138

Look forward to next week when we can dive even deeper into some additional options!

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Brandon Wolf
Brandon was born and raised in the Mint Hill area and graduated from Independence High School. He went on to play college baseball at Wingate University. Brandon met his wife at Independence HS, dated all through HS, college and got married right after college (they have a little boy due in September). Brandon has been a Mortgage Loan Officer, in Mint Hill, for over 7 years. "Mint Hill is more than the place I work, it's been my home. I grew up, played baseball, met my wife. I truly love helping people get mortgages in this town I have always called HOME" says Brandon.