Clients are always First

@FirstAmBancorp.com First American Bancorp www.Firstambancorp.com

Clients and their family and friends who are happy with our service are more important to us than anything else.  We pride ourselves in offering the highest level of customer service, and appreciate the opportunity to earn your business. Whether you want to refinance for a lower mortgage rate or purchase a new home.  Our purpose is to satisfy those needs. By putting you first, we assure you a pleasurable transaction. Our goal is to make the loan process as simple and worry-free as possible.   

Contact us to pre-qualify for a mortgage loan and determine how much you can afford. It enables you to move swiftly when you find the right home, especially when there are other interested buyers. It also indicates to the seller that you are serious and can afford to buy the property. A pre-approval is a simple calculation done by a mortgage lender that tells you the amount you'll be able to finance through a loan and what your monthly payment will be. When you find a home to buy, a pre-approval also reassures the seller that you have the financial means to purchase his or her home.

Know what you can afford is the first rule of home buying, and that depends on how much income and how much debt you have.

The price you can afford to pay for a home will depend on several factors, such as:

• total monthly gross income

• the funds you have available for the down payment, closing costs and cash reserves required by the lender

• your debt and debt of co-borrowers

• your credit history

• the type of mortgage you select

• automated underwriting and manual certifications

• current interest rates and market conditions

Another figure lenders use to evaluate how much you can afford is the housing expense-to-income ratio. It is determined by calculating your projected monthly housing expense, which consists of the principal and interest payment on your new home loan, property taxes and hazard insurance (also known as PITI).

Each buyer is unique – and a mortgage professional can help you find out just what you can afford. Your income and your debts will typically play the biggest roles in determining your price range.  In todays market is essential to have the details underwritten and approved.  Our trained professionals will help you achieve the best method to determine your affordability. efanniemae.com, fanniemae,  homeowners, homeowner resources, minority homeownership, real estate owned, reo, responsible lending, foreclosure, foreclosure prevention, prevent foreclosure, avoid foreclosure, loan workout, mortgage delinquency, behind on mortgageha fannie mae, homeowners, homeowner resources, homeownership, minority homeownership, real estate, real estate owned, reo, home buyers, , houses, responsible lending, predatory lending, foreclosure, foreclosure prevention, prevent foreclosure, avoid foreclosure, trouble paying mortgage, help paying mortgage, loan workout, behind on mortgage, what can Fannie Mae do to assist families who are trying to avoid foreclosure, what can Fannie Mae do to help families who are falling behind on mortgage

First American Bancorp fannie mae, homeowners, homeowner resources, homeownership, minority homeownership, real estate, real estate owned, reo, home buyers, , houses, responsible lending, predatory lending, foreclosure, foreclosure prevention, prevent foreclosure, avoid foreclosure, trouble paying mortgage, help paying mortgage, loan workout, behind on mortgage, what can Fannie Mae do to assist families who are trying to avoid foreclosure, mortgage First American Bancorp www.Firstambancorp.com