Financing Your Home

Mortgage Process

Your home is far and away the largest purchase you’ll make. While the process of securing financing can seem daunting, there’s lots of resources to help first-time buyers afford the home of their dreams at the best rates with as little hassle as possible.

Know Your Options

The two most common types of mortgages are fixed-rate and adjustable. Fixed-rate mortgages offer a payment system that will remain consistent throughout the life of the loan. Adjustable mortgages offer more flexibility to refinance or sell. However, rates may change after a set period. For more information on mortgages, visit the Consumer Financial Protect Bureau’s page on mortgages.

Credit Scores Count

Credit scores are reflective of past performance in paying bills on time. Generally, the higher your score, the lower your mortgages interest rates and greater your options. For more information on credit reports and your rights, visit the Federal Trade Commission's page on Credit & Loans.

Application Information

When applying for a mortgage, you will be asked about your employment history, current income, property assets, bank accounts, monthly expenses and outstanding debts and current loans. Your lender will take these factors into accounts as well as your FICO credit score to determine your eligibility as well as rates and terms. Watch: “How to Calculate the Price You Can Afford for a Home” by Howcast.

Preferred Lenders

Sea Pac proudly works with the following outstanding lenders.