Alaska FHA Mortgage, Where do I Start?

Where do you start? By asking yourself, “can I really buy a house?”

An FHA mortgage might be just the option you’ve been looking for to help you buy your first or move up home.

A home is both an investment and a savings plan for your future.

Knowledge opens doors. This is literally true when it comes to buying a home. The following questions and answers will give you basic knowledge and the tools necessary to navigate the entire home buying process – from deciding whether you’re ready to buy, all the way to getting the keys to your new home!

Are you ready to buy a home?

Questions you should ask yourself:

Do I have a steady, reliable source of verifiable income?
Have I been employed on a regular basis for the last 12 months?
Do I have a good record of paying my bills?
Do I have manageable long-term debts, like car payments?
Do I have money for a down payment?
Do I have the ability to pay a mortgage, and other living costs, every month?

If you can answer “yes” to these questions, you are probably ready to buy your own home.

Don’t you need a lot of money down and perfect credit to buy a home?

It’s not nearly as hard as you might think. FHA understands that Alaska first-time home buyers may have had some financial problems in the past and don’t have a lot of money saved. That doesn’t mean you can’t buy a home. Because FHA, insures your mortgage, lenders are more willing to offer these loans with fewer requirements. Even if you have had credit problems such as bankruptcy, it is easier for you to qualify for an FHA-insured loan than a conventional loan. FHA has a low 3.5% down payment, and that money can come from a family member, employer or charitable organization. Many conventional loans don’t allow this flexibility.

I’m ready to get started. What do I do next?

We will take you through the entire home buying process, you can even get pre-qualified for an FHA-insured mortgage, on your computer!

Overview of the buying process

See how much house you can buy, and whether you qualify for an FHA mortgage.

Jackie Toppin Mortgage Banker Mortgage License #100110 Preferred Mortgage Branch of Residential Mortgage Mortgage License #100083 3111 “C” Street, Suite 325 Anchorage, AK, 99503	Work: 907-261-7655 Fax: 907-261-7543 jackie@jackietoppin.com http://www.jackietoppin.com
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