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Your first step to purchasing a new home is to find out how much home you can afford. The best way to do this is by contacting a loan officer. By doing this, you can find out how big of a loan you can be approved for, giving you a price range of homes to begin looking at. Now you're ready to go shopping for the home of your dreams!

Although there are certain things that everyone should consider when searching for the right home, most of the qualities that you are looking for will depend on you individually. Some general things you should keep in mind are as follows:

Location - Location is always important when purchasing a new home. You most likely want to be close to your work place, have ample shopping and restaurants, yet still have the quiet and peacefulness of a small, quaint neighborhood. And don’t forget about appreciation. Some areas are appreciating at a much faster pace than others.

Your Neighborhood – Make sure you look around the neighborhood when you find a home you really like. Are their parks for your children to play in? Do the people seem friendly? Do you get a feeling of safety there? These are just a few of the questions you should ask yourself before deciding on a home.

Important Features – Many of these features will vary depending on your personal taste. But you should keep in mind certain general aspects when deciding on a home. How big is the backyard? Is it fenced in or open? Will you have to put any additional money into fixing up the house. Don’t forget to look at the hidden costs of homebuying.

New Home vs. Used Home - When dealing with New Construction, excessive options can range anywhere from dead bolts and closet shelving to driveways and landscaping. When dealing with Used Homes, check for items such as quality of the carpet, old wiring, air conditioning, exterior and interior painting, a new roof... basically anything extra that might need repairing.

There are a wide variety of loan programs to choose from when deciding on the mortgage that’s best for you. Selecting a mortgage program to fit into your financial goals requires the appropriate analysis of your personal and financial position. We can offer stress-free, professional service, along with the ideal loan program, to assist you in making the best decision.

For the home buyer who Moves Every Few Years
		Our 3/1 and 5/1 ARM programs are ideal for the homebuyer who transfers due to career demands. Under these programs, the interest rate is fixed at a low rate for the first three or five years and then adjusts every year thereafter. In addition to taking advantage of a low rate, you will be protected with caps of 2% per year, and 6% over the life of the loan. In many cases, you will be moving on to a new location before the loan ever adjusts. We have designed this affordable program with low fees, minimal closing costs, and a long-term lock option. In addition to the 3/1 and 5/1 ARMs, we also offer a 1/1 adjustable rate mortgage. This product adjusts annually; however, the starting interest rate is generally lower than our already competitive 3/1 and 5/1 ARMs. Like the 3/1 and 5/1 ARMs, the one-year ARM has caps of 2% per year, and 6% over the life of the loan. This program is ideal for the professional who transfers every two to three years.

For the Changing Family
New Millennium Mortgage Corporation has found that the average homeowner moves every five to seven years. With this in mind, we have designed a 5 Year Balloon program to fit this type of profile. Under this type of program, you can take advantage of an extremely low rate, which stays fixed for seven years. At the end of the seventh year, three options become available to you: (1) refinance the loan, (2) pay-off the note, or (3) let the interest rate adjust to the current market rate at that time for minimal processing fee. In most cases, the average home buyer’s family and financial position has changed during those seven years. Look back seven years ago... haven’t your needs changed?

For the Equity Builder
		Building equity fast can be the greatest return on an investment. For the investment-minded home buyer, we offer a 15-year program designed to build a good equity position in a relatively short amount of time. As we all know, time is money. By shortening the term of the loan, you can cut your interest expense in half, and reduce principal much faster. The result is equity. Under this program, we have very competitive rates, with low fees and closing costs. Many past customers take advantage of our no lender cost refinance to reduce their rate or drop mortgage insurance and move into the 15 year fixed plan without much of a change in their payment.

For the Buyer Who Hates to Move
Many people prefer to stay put. They search for their dream home and when they find it, they never anticipate moving again. Our 30 or 40 year product is ideal for this buyer. We offer a low interest rate and minimal fees. You can also prepay the loan and build equity much faster, with no prepayment penalty. This option enables you to utilize your equity position to finance future obligations such as home improvements, or sending children off to college. Whatever your profile, we have the program to suit your individual needs!

• Great Rates on All FHA Conventional and VA
• 1 Year Rate Locks with Free Float Downs
• Free Bridge Loans and Signature Loans for Earnest Money
• Conventional Loans with 5% Down with No PMI
• 100% Financing - Qualifying Rates from 4.95%
• Nehemiah – No Money Down (Conventional & FHA)
• Wide Variety of ARMS and Balloons starting at 3.95%
• No Cost Refinance for the Life the Home is Owned
• No Debt Ratio Loans
• Stated Income Loans
• No Doc Loans With 5% Down and No PMI
• Wide Range of A-Credit Loan Programs

Go ahead and take a few minutes to apply for your mortgage on-line. We can let you know of your pre-approval instantly, so you’ll be one step ahead in the home purchasing process.

After you get pre-approved, find the home of your dreams, apply for a mortgage and bring or fax in all of the necessary documents to process your loan, your ready to close on your mortgage and move in!