Home Financing
A small company with the flexibility to work with borrowers on an individual level can do more to make the dream of home ownership a reality than a large impersonal bank. Individual bankers like Lance Armer, owner of Santa Fe Mortgage, strive to empower you to make smart mortgage borrowing decisions rather than decisions that beef up a lender’s bottom line. Santa Fe Mortgage has been in the mortgage industry since the early 1990s. We have the experience to make financing a home as seamless as possible.
How Mortgage Lending Works
Traditionally, borrowers needed to save at least 20{41dbf88c54f30d91023a493af28f377808302c8c5cc0128efca12a967fedb527} of the purchase price as a down payment, along with presenting excellent credit. Exceptions existed for veterans and for FHA loans. Borrowers who did not have the required down payment relied on so-called piggyback loans (second mortgage loans funded simultaneously with the ‘first mortgage’ loan to make up for the down payment shortfall) or were forced to accept and pay for a private mortgage insurance (MI) as a safeguard to the lender against default. Whatever their financing strategies, borrowers presented financial credentials to potential lenders while shopping for the home of their dreams. Borrowers with healthy budgets and strong credit profiles found themselves with a multitude of lending options. Other borrowers with less desirable qualifications found that financial reality threw cold water on their housing dreams.
One-on-One Attention
Many lenders demand an information dump from prospective borrowers, including intimate details of financial transactions from decades past. With Santa Fe Mortgage, customers have access to the same rates and level of financial information as they would with a big bank. But that’s where the similarities end. At Santa Fe Mortgage, we walk you through the process, asking only for as much information as we need as we process your application and help get you the loan you want. We respect and try to protect your privacy. Are you ready to get started toward realizing your piece of the American dream? Give us a call at Santa Fe Mortgage today!