Buy a Home With Confidence
Latitude Financial will guide you through the loan process, so you know what to expect every step of the way.
GET STARTED
Looking For Your First Home or Dream Home?
Purchasing a home is one of the biggest financial decisions in a person’s life.
Getting pre-approved will help you in the following ways:
Today's Mortgage Rates
View today’s mortgage and refinance interest rates and learn how we can help you reach your home financing goals.
15 Year Fixed
2.75%
APR 3.053% calculated for a $200,000 loan amount. 20% down payment assumption. Credit Assumption: Excellent
30 Year Fixed
3.15%
APR 3.403% calculated for a $200,000 loan amount. 20% down payment assumption. Credit Assumption: Excellent
Mortgage Calculator
Use our free mortgage calculator to estimate your monthly mortgage payment, including your principal and interest, taxes, insurance, and PMI.
Get Pre-Approved Today
Take the first step to getting the best home loan for you.
APPLY ONLINECONTACT USCALL 215-600-1810
The Buying Process
After you’ve filled out our Apply Now form, we’ll lead you through this four-step process.
1. Review
We will review your application and then contact you to discuss the next steps in the loan process.
2. Pre-Approve
Once pre-approved, we’ll help you select the loan that meets your needs. We will then order an appraisal and send initial loan disclosures.
3. Verify & Approve
You provide us with documentation of the information you submitted in your application. We’ll verify and approve your loan for closing.
4. Close
After signing the closing documents, we’ll coordinate the loan closing and fund your loan. It’s just that simple!
Ready to Buy a Home
What are the initial costs of buying a home?
Several factors need to be considered, including the cost of the house and the type of mortgage. In general, you need to have enough money to cover three costs:
Earnest Money – This is the deposit you make when you submit an offer on the home. Your real estate broker will put your this money into an escrow account and if your offer is accepted, your earnest money will be applied to the down payment or closing costs. If your offer is rejected, you will have your money refunded.
Down Payment – This is usually between 3.5% and 20% of the total cost of the home that must be paid when you go to settlement. The amount of the down payment can vary based on your income, credit history, the cost of the home and the type of mortgage you choose. In some cases your lender may have a zero-down payment loan option. Traditionally, buyers who are getting an FHA loan only need to put down 3.5%.
Closing Costs – Closing costs generally range between 1-3% of the loan value. These costs include points, title insurance, escrow and lender fees. At Crestline Funding, we have a variety of loan products with no closing costs.
Fixed-Rate Mortgage
Predictable monthly payments.
A fixed-rate mortgage offers you consistency that can help make it easier for you to set a budget. Your mortgage interest rate, and your total monthly payment of principal and interest, will stay the same for the entire term of the loan.
Fixed-rate mortgages are a good choice if you:
- Think interest rates could rise in the next few years and you want to keep the current rate
- Plan to stay in your home for many years
- Prefer the stability of a fixed principal and interest payment that doesn’t change
Adjustable-Rate Mortgage
Monthly payments that may change periodically.
Adjustable-rate mortgages (ARMs), also known as variable-rate mortgages, have an interest rate that may change periodically depending on changes in a corresponding financial index that’s associated with the loan. Generally speaking, your monthly payment will increase or decrease if the index rate goes up or down.
ARM loans are usually named by the length of time the interest rate remains fixed and how often the interest rate is subject to adjustment thereafter. For example, in a 5/1 ARM, the 5 stands for an initial 5-year period during which the interest rate remains fixed while the 1 shows that the interest rate is subject to adjustment once per year thereafter.
Adjustable-rate mortgages are a good choice if you:
- Plan to move before the end of the introductory fixed-rate period, so you aren’t concerned about possible rate increases
- Want an initial monthly payment lower than a fixed-rate mortgage usually offers
- Think interest rates may go down in the future