Buying a Maine home, getting a house loan.
What are the hurdles set up to clear today at a local Maine bank for financing your own place?
No longer just one flavor of mortgage loans for a Maine home. The days of just, only one route of saving up, going without to get a pile of cash large enough.
To plop down 25% of the Maine home property's purchase price are over. Long gone.
When you spy with your little eye "the one" you want to start out in for "home sweet home". And the sticks and bricks are all you can think, dream about through out your home buyer's days and nights.
Now options to buying a Maine home are growing in number to custom make the best fit for your financial situation.
And considering the all important property listing the buyer has his or her heart set on owning.
To four walls and a roof. To raise a family in. To see the house in Maine equity increase as the mortgage payments chips away slowly. On the loan amortization schedule debt securing the Maine home for bank lending collateral.
The requirements to get a loan for a Maine home start with your all important number, the credit score. That number that takes years to build up, to repair if dinged and beat up. And so little time to see it get riddled with holes and shrink rapidly because of life events, poor spending impulse control.