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How to Use Real Estate to Hedge Against Inflation

If you’ve watched the news lately, you’ve likely heard about the risks of inflation. It’s coming at us at a much higher speed than normal as the economy and business world work their way out of the pandemic state they were in for over a year.

In many markets, inflation is as high as 5%, which is an unprecedented rate compared to the past few decades. Fortunately, you can use real estate to hedge against inflation.

Here’s how.

Understanding Inflation

Inflation is a decrease in your purchasing power. The dollar becomes worth less than it was yesterday, which means it takes more money to buy the same products, assets, or investments.

It happens when there’s more money available (stimulus money) and a higher demand for products and services. When people are willing to pay more for things, it drives up prices and drives down the value of the dollar.

As prices increase, the value of the dollar decreases, which can make even the best investments worth much less than before.

Inflation Predictions for 2022

Experts so far believe we’ve seen the worst of inflation as of the last quarter of 2021. As you might have seen, gas prices decreased slightly in December which was the first sign of good things to come.

Experts believe we won’t see an increase in inflationary rates that hit almost 7% in 2021 in 2022. It will take a while for the economy to settle down again, but as supply increases and demand settles, inflationary rates will slow down too.

However, this doesn’t mean you’ll see prices fall. The higher prices we’ve had to adjust to quickly are here to stay. Some higher prices won’t affect you as much, like a gallon of milk or a carton of strawberries. Even if they cost 20% more than before, it won’t cause you to go bankrupt.

Where it can affect people the most, though, is in larger assets, like real estate. If a home costs 20% more than last year and it originally cost $200,000, you’re looking at a price of $240,000 this year – that’s a difference of $40,000.

That being said, real estate can be a great way to hedge against inflation, so it’s important to position yourself so you can buy real estate and possibly avoid other inflationary-prone assets.

Why you Should Worry about Inflation

Inflation is always an issue, even when we aren’t in periods of high inflation like right now. Each year, the Fed predicts an inflationary rate of at least 2%. Again, that doesn’t sound like much, especially when you’re talking about low-ticket items.

But over time, that inflationary rate cuts your purchase power by the double digits. A 3% inflationary rate, for example, can almost cut your purchasing power in half in the next 40 – 50 years.

So, it’s not something you have to lose sleep over tonight because it will affect your ability to buy groceries tomorrow, but it is a concern that you should keep at the forefront of your mind as you consider your investment options.

Is Real Estate Inflation Real in 2022?

You probably wonder will the inflationary rates continue to affect real estate in 2022? With the crazy increase in prices and values over the last year, it can’t last forever, right?

While we might see real estate values settle slightly, there are still many reasons experts believe values and prices will continue to soar.

Millennials can Finally Enter the Market

Millennials have been at a disadvantage for years. They entered adulthood just as the housing market crashed and they watched millions of people lose money. Most millennials held off from investing in real estate and instead rented.

Fast forward to today, millennials are turning around 33 years old and are ready to settle down and buy real estate. This means millions of people are going to want in on real estate this year which will keep driving prices higher.

This means there will continue to be a higher demand for real estate and most people believe this will go on for at least 5 years.

Supply Chain Issues are Still a Problem

Supply chain issues have affected everything from the food you buy at the grocery store to the materials used to build homes and it’s not going to fix itself overnight.

A smaller supply of materials means fewer homes built and higher prices to make up for the cost of materials. Unfortunately, there doesn’t seem to be an end in sight as one of the largest producers of steel (Beijing) put its production on hold to limit pollution during the Winter Olympics.

As if supply issues weren’t enough, there is still a labor shortage too. With fewer people to build homes, builders can build as fast as they used to. This means demand will likely continue to outpace supply, keeping prices high.

Is Real Estate a Good Hedge Against Inflation?

If you’re looking for a good hedge against inflation, you might wonder if your stock portfolio is good or bad.

Unfortunately, there’s not a straight answer because it depends on many variables. However, growth stocks tend to perform poorly during periods of inflation, whereas value stocks perform better. But there’s really no way to predict how stocks will perform.

Real estate, on the other hand, has a positive history during periods of inflation. But how do you hedge against inflation using real estate? It helps to understand how real estate hedges against inflation first.

How Real Estate Hedges Against Inflation

Your primary residence may or may not hedge against inflation, but any investment properties you have might just do the trick.

Here’s why.

Investment Properties Earn Rent

If you own investment properties and rent them out, you receive monthly income. If you have short-term leases, you can increase the price of rent annually or whenever you turn over a new lease.

This helps you keep pace with inflation since it’s a natural increase. If you had a non-appreciating asset or one you couldn’t increase your earnings on, it wouldn’t hedge against inflation because your earnings would be worth less than before.

Home Prices Rise during Inflation

Typically, home prices increase during inflation. This means it costs more to buy a house, which is bad if you’re in the market to buy, but good if you own a property.

Higher sales prices mean higher home values. A higher value means a lower loan-to-value ratio. For example, if you owed $100,000 on your home that was worth $200,000 last year, but your home is now worth $210,000 this year, your LTV fell from 50% to 47.6%. You have more equity in the home. If you were to sell it today, you’d make more money than last year.

Debt Depreciates during Inflation

If you have financing on the property, your mortgage payment won’t change (if you have a fixed-rate loan) but you’ll earn more income from the higher rent. This keeps your earnings up and your debts down. Your mortgage payment won’t increase or change during inflationary periods, but the amount you can earn from the property might.

4 Ways to Use Real Estate to Hedge Against Inflation

Fortunately, there are many ways to use real estate to hedge against inflation. Here are the top ways.

Buy a Multi-Unit Property

While any investment property can be a good hedge against inflation, multi-unit properties provide even more protection.

When you own more than one unit, you have more opportunities to raise the rent, increasing your earnings. Again, if you keep short-term leases, your properties will turn over more frequently, giving you the option to increase rents. Even if you get the same tenants renewing the lease, if you have the provision in the lease to increase the rent, you can increase your earnings.

Buy Land

If you don’t want to invest in properties themselves, consider investing in land, especially farmland. Since land is limited, the opportunities to make money on land you own are endless.

Like real estate, land appreciates. If you just hold onto it and sell it for a profit, you can hedge against inflation by making more on the property than you paid for it. But, if you want to increase your chances of hedging against inflation, consider renting farmland to farmers. You get annual cash income from the crops the farmer plants and sells plus monthly rent if you charge rent for land use.

When you sell the property, you also earn the profits from the land appreciating, especially if you sell during a period of inflation.

Passively Invest in Real Estate

If investing in real estate directly doesn’t entice you, consider passively investing in real estate with real estate crowdfunding.

You can invest in a property’s debt (be the lender) or equity (earn dividends from the income). Like regular crowdfunding, you invest in the property with other investors, so you own a small portion of the property, not the entire thing.

The nice thing about REITs is you don’t have to deal with the property itself. You have no responsibilities to manage it, sell it, or maintain it, but you earn the profits from investing in real estate.

Refinance your Current Loans

If you have an adjustable-rate loan, it pays to refinance it before or at the start of inflationary periods. Inflation usually means higher interest rates, which can negatively affect your mortgage payment on an ARM loan.

To hedge against inflation, refinance out of your ARM into a fixed-rate loan. If you, do it before the inflationary period is predicted, you’ll get the lowest rates, but if not, the sooner you refinance the better.

You also have some control over the rates you get. The better situation you pose to the lender (high credit scores, low debt ratios, and stable employment), the better rates they can offer.

Diversify your Portfolio to Hedge Against Inflation

Like any investment, it’s always a good idea to diversify. We aren’t saying to only invest in real estate and forget everything else.

Putting all your eggs in one basket is never a good idea. Instead, spread your money throughout various assets. This gives you a chance to earn money in some sectors when others aren’t doing so well and vice versa.

You won’t find two sectors that react the same way to politics, the economy, or other outside factors, but when you diversify your investments, you make the best of it.

A portfolio heavy in stocks, for example, is at the mercy of the stock market. If it crashes, like it did during the pandemic, you lose most of what you have. But, if you diversified and had money in stocks, bonds, and real estate or other hard assets, you would likely ride out the storm at a much more even pace.

Whether you’re ready to invest in a multi-unit property, land or you just want to get your feet wet with a real estate investment trust, add real estate to your portfolio to hedge against inflation.

Final Thoughts

Always be thinking about how to stay two steps ahead of inflation. 2022 will be another year of inflationary prices and the more you prepare yourself, the better you’ll come out of it financially speaking.

If you’re ready to explore your options to invest in real estate, let’s connect. Our experienced loan officers can help you find the perfect loan to help you hedge against inflation. You don’t need a lot of money to invest in real estate today. With 20% – 30% down, you can leverage your investment, diversify your portfolio, and come out ahead of inflation.

Everything You Need to Know about Home Equity

Your home is one of the largest investments you’ll make in your lifetime, but it can feel like it ties up your funds. What if you could tap into the equity and get cash to use as you want?

You can with the many mortgage products available today. As long as you have decent credit and can afford the payments, homeowners can often tap into up to 80% of the equity they’ve built in their home.

Here’s everything you must know about home equity and how it works.

What is Home Equity?

Home equity is the portion of the investment in your home that belongs to you. If you’re like most people, you need financing to buy your home – you don’t have the cash to purchase it outright. When you use financing, the portion of the home’s price that you put down on the home becomes your equity while the remainder is tied to the mortgage.

Fortunately, as you make your payments, you build more equity in your home, but there are other ways to increase your home’s equity too.

Once you pay off your mortgage, you have 100% equity in your home, but that can feel like a pipe dream when you first buy your home. Fortunately, there are other ways to build equity in your home and access it, so you have the money you need for other uses without selling your home.

How do you get Equity in your Home?

You get equity in your home in a few ways – the most common is making your monthly payments, but there are other ways too.

Make your Payments

When you make your regularly scheduled mortgage payments, you pay some principal each month. A portion of your payment goes to interest too, but each month your interest charges decrease as you pay the principal balance down.

If you look at the amortization schedule provided at the closing, you’ll see just how much equity you’ll have in your home with each payment. At the start of the schedule, you pay more interest than principal, but as you pay the principal balance down, a larger portion of your payment goes toward principal versus interest.

Home Appreciation

Homes naturally appreciate, typically an average of 3.5% – 3.8% per year. This means each year you earn a little more equity in your home. If you bought your home for $200,000, for example, the next year it may be worth around $207,500, giving you a little more equity on top of the equity you earned by paying your principal balance down.

Of course, every home appreciates at a different level and appreciation varies throughout the years – some years your home may appreciate more or less than others.

Calculating your Home Equity

It’s easy to calculate the equity in your home. You need just two numbers – the amount of outstanding principal on your mortgage (all mortgages if you have more than one) and your home’s current value.

If you aren’t sure of your home’s current value, use sites like Zillow or Chase to get an estimated value. You could also ask around to see how much homes in the area sold for recently, just make sure they’re similar to your home.

Once you have these numbers, subtract the amount you owe on your mortgages from the home’s value, and you have your home equity.

For example, if your home is worth $300,000 and you owe $100,000 in mortgages, you have $200,000 in equity. We can always help you determine how much equity you have in your home if you aren’t sure too.

5 Tips to Increase your Home Equity

Making your regular payments and enjoying natural home appreciation is a great way to build equity, but there are other ways to speed it along if you want to increase your home equity.

1.     Make a Large Down Payment

When you buy your home, you have the option to make the minimum down payment required or a higher down payment. If you have the cash and don’t need it for emergency funds, reserves, or other financial goals, consider putting it down on your home.

The money you put down is instant equity in your home. Not only does it give you a higher amount of equity, but it also lowers your mortgage payment because you borrow less, and it may even help you get better loan terms.

If you tie money up in your home and later need it, you can always refinance to take the money out of your home.

2.     Make Extra Mortgage Payments

You must make your minimum mortgage payments each month, but you can also pay extra. Most loans don’t have prepayment penalties any longer so you can pay as much as you want each month.

To build equity in your home, create a budget that allows you to make extra payments. It can be as little as $100 a month, bi-weekly payments, one extra payment a year, or even lump sum payments you make when you have windfalls.

You can make regular extra payments or sporadically pay your mortgage down when you have the extra funds. Any way you do it will increase your home’s equity instantly.

3.     Improve your Home

Some home improvements increase your home’s value. Don’t expect a dollar-for-dollar increase, though. Kitchen and bathroom improvements have the highest impact on your home’s value, but other renovations may help too.

If you aren’t sure if the renovations, you’re considering will increase your home’s value, talk to a local appraiser or real estate agent to get their opinion. Sometimes simple changes like a fresh coat of paint, increased curb appeal, or updating fixtures are enough to increase your home’s value.

4.     Make 15-Year Payments on a 30-Year Loan

If you took out a 30-year mortgage, you could still pay your loan off in 15 years by making 15-year payments. Using a mortgage calculator, figure out how much you must pay to pay the loan off in 15 years.

Some people choose this option versus refinancing to avoid having the obligation to make 15-year payments in case they can’t afford the higher payment every month.

5.     Refinance your Mortgage

Refinancing your mortgage for a lower rate or into a shorter term is a great way to increase your home equity.

If you can afford a shorter term, it’s the fastest way to increase the equity you build in your home. A larger portion of your payment will go toward principal since you have less time to pay the debt off and you’ll have a lower interest rate because shorter terms have lower rates.

If you can’t afford the shorter term, just taking advantage of today’s lower rates is a great way to increase equity since a smaller amount of your payment will go toward interest with a lower rate.

How to Get the Equity in your Home

Once your money is tied up in your home, it can feel like it’s stuck there until you sell the home, but that’s not the case. We offer several ways to access your home’s equity.

Cash-Out Refinance

A cash-out refi is a refinance of your first mortgage. You refinance the amount you owe on your current mortgage plus any equity you want to take out of the home.

Most homeowners can tap into up to 80% of their home’s value. For example, if your home is worth $300,000, you can take out a cash-out refinance up to $240,000. Of course, how much you can borrow depends on your qualifying factors and the amount of your first mortgage.

Assuming you qualify for the payment on a $240,000 loan, any difference between the $240,000 and the amount of your outstanding mortgage is cash you can receive.

Home Equity Loan

A home equity loan is a second mortgage on your property. It doesn’t touch your first mortgage, which is a nice option for those who have a low interest rate on their first mortgage and don’t want to lose it.

Home equity loans have a fixed interest rate and pay you the equity you can tap into in one lump sum. Like the cash-out refinance, you can tap into up to 80% of the home’s value minus any first mortgage liens you have on the home.

Home Equity Line of Credit

A HELOC is also a second mortgage on your home, but it works differently than a home equity loan. A HELOC is a line of credit that you can access as you want/need throughout the first 10 years.

Like all other options, you can tap into up to 80% of the home’s equity, but you use the money like a credit card line. You get access to the funds with a debit card or checking account and can use the funds as you need. You must make interest payments on any amount you withdraw (use) but can also pay back any principal too.

If you pay back the principal, you can reuse the line of credit throughout the draw period, which lasts for 10 years (just like a credit card). After the 10 years, the loan enters the repayment period when you’ll owe principal and interest payments to pay the loan off in the next 20 years.

Ways to Use the Equity in your Home

Fortunately, you can use the equity in your home however you want – we don’t tell you what you can do with the money. Here are the top ways homeowners use the funds though.

Home Improvements

What better way to use your home’s equity than to reinvest in your home? When you use the funds to improve your home, you increase its value and earn the equity right back. This is often a more favorable way to cover the cost of home improvements since home equity loans or even a cash-out refinance has lower interest rates than personal loans or credit cards.

Debt Consolidation

If you have a large amount of high-interest consumer debt, you can pay it off using your home’s equity. Since mortgage loans usually have a much lower interest rate than credit cards or personal loans, you can pay less interest and pay the debt off faster.

You’ll also have the convenience of having one payment to handle each month versus several. This makes it easier to stay on track with your payments and to get out of debt faster.

Pay for Large Expenses

Other great uses of the equity in your home include:

  • Tuition for college
  • Tuition for private schools
  • Large purchases for your home

Emergency Fund

If you don’t have an emergency fund, having the funds from your home’s equity can provide peace of mind. Many homeowners take out a HELOC and save it for emergencies. If they never use it, they don’t have to worry about interest charges, but if they need it, they know it’s there.

Final Thoughts

Your home’s equity is yours to do what you want with it. As long as you have decent credit and can afford the monthly payments, you can tap into your equity.

Before you use your home equity, think about what you’re doing with it. Since you’ll be taking out secured debt (your home is the collateral), make sure you’re using the funds for something worth putting your home at risk.

Whether you want to make home improvements, are tired of your high-interest debt, or have other plans for the money, there are many ways to get the profits you’ve made in your home out so you can enjoy your money while you can!

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Key Steps in Buying a Home

Key Steps in Buying a House

Buying a home can be fun and stressful at the same time. You’re searching for your dream house – the place you will call home with your family for at least the next few years, if not forever. It’s a big job!

The buying process can take many months and involves many steps, some of which you should take long before you even look at homes.

Here are the key steps in buying a house to make it as stress-free and successful as possible for you.

Step 1: Determine if you’re Ready to Buy a Home

Before you buy a house, you should determine if you’re ready. A house is likely one of the largest commitments and investments you’ll make in your lifetime so it’s important to take the time to make sure the timing is right.

What is your Credit History?

Your credit history is the first thing lenders look at when deciding if you qualify for a loan. Bad credit history can make it hard to get approved. If you do get approved, it may be at a higher interest rate or worse terms.

Pull your free credit report and see if you have any negative credit information, such as:

  • Late payments (any payments made over 30 days late)
  • Credit cards or credit lines with over 30% of the credit line outstanding
  • Collections
  • Public records (bankruptcy or foreclosure)
  • Excessive use of revolving debt (credit cards)

You may also see your credit score for free if you sign up for Experian or use your free credit reporting options from any of your credit cards or even bank accounts.

Ideally, you should have a 660 or higher credit score, but you may get away with a lower score in some cases. Look at your credit history and decide if it’s in good enough shape or if you have enough credit. Some people have a ‘thin’ credit profile and don’t qualify because lenders don’t have enough information to use to make a decision.

 

Is your Income and Employment Stable?

Lenders look at your last two years to see if your income and employment are stable. This doesn’t mean you can’t change jobs during that time, but you should be able to show stability.

Ask yourself, are you in your career, or are you still trying to figure out what you want to do? Income stability is key to affording a home. Even if you can afford the payment now if you don’t have stable employment, how will you afford it in the future?

Are your Debts Under Control?

Your debt-to-income ratio is another major factor in your loan approval. If you have too many debts, you may not be able to afford the mortgage.

Lenders look at your debt-to-income ratio, which compares your total monthly debts to your gross monthly income (income before taxes). Ideally, your DTI should be 49% or less, but some loan programs allow a DTI of over 50% in certain situations.

It’s a good idea to calculate your DTI to determine if you should pay any debts off before you apply for a mortgage. Remember, your DTI includes the new mortgage payment, so make sure to include an estimated payment in your calculations.

If your DTI is too high, work out a debt repayment plan before you apply for a mortgage to get your DTI to a manageable level.

Do you Have Enough Assets?

You’ll need money to put down on your home and money for the closing costs. You must be able to prove that you have the funds in your possession and the money didn’t come from a loan.

Your assets must be liquid, such as in a checking, savings, CD, or stocks you can sell right away. In other words, you must have immediate access to the funds or liquid assets that you can sell to use for the down payment and closing costs.

Down Payment Funds

Most loan programs require a down payment starting at 3% or more. You must prove you have the funds in your bank account and that the funds belong to you.

While some loan programs don’t require a down payment, such as VA and USDA loans, it’s always best to prepare with a down payment. Even if a program doesn’t require it, making a down payment gives you instant equity in your home and may give you access to lower interest rates or better terms.

Closing Costs

Closing costs are something many homebuyers overlook. The total cost can be 2% – 5% of your loan amount. It varies by borrower and lender, but it’s a good idea to work them into your budget so you have enough liquid assets available when you’re ready to apply for a loan.

Step 2: Determine how much House you can Afford

To determine how much house you can afford, it’s best to get pre-approved for a mortgage. A pre-approval will tell you how much a lender will lend you, what the payment is, and the total cost of the loan.

You don’t have to borrow the full amount you’re pre-approved for, but you’ll know the maximum amount we can offer.

You can use the payment, which will include principal, interest, real estate taxes, and homeowner’s insurance to see how it fits within your budget. We won’t pre-approve you for any amount that exceeds the general debt-to-income ratio guidelines, which can range from a 36% DTI to a 50% DTI depending on the loan program.

Documents Needed to Get Pre-Approved

To get pre-approved, you’ll need to provide the following documents:

  • Paystubs covering the last 30 days of employment
  • W-2s for the last 2 years
  • Tax returns for the last 2 years if you’re self-employed
  • Bank statements for the last 2 months
  • Proof of employment
  • Letters of explanation for any gaps in employment or negative credit in the last 2 years

Using your Pre-Approval Letter

Once you’re pre-approved for a loan, we’ll issue a pre-approval letter. The letter will state how much loan you can borrow, the type of mortgage program, the required down payment, and the loan terms.

The letter will also state what conditions you must satisfy to close on the loan, which will include conditions about the property you choose too.

Step 3: Find a Real Estate Agent

Your next step is to find a real estate agent. They can be instrumental in helping you find the right home and pay the right price.

We suggest interviewing at least three real estate agents to see which one fits your needs. Each agent has a different philosophy and methods to handle the home search. Find an agent that works with clients like you, communicates in the way you prefer and is good at what they do.

Some questions to ask real estate agents include:

  • How long have you been doing this?
  • What types of homes do you help clients buy/sell?
  • How do you communicate new listings that you find?
  • How often do you contact your clients?
  • How long does it take to find your clients their ‘dream home’?

Step 4: Look at Homes and Make an Offer

It’s finally time to look at homes and make an offer on them. Your real estate agent can help you find the homes that fit your needs and even your wants. Together you can discuss the pros and cons of each home, and then ultimately decide.

Once you find ‘the home,’ you can make an offer. Your real estate agent will handle this for you. Of course, the offer should be within your pre-approved amount including the amount of the down payment you will make.

Determining the Terms of the Sale

When you make an offer, you’ll make it based on many factors including not only the price, but also the contingencies you want to include, the closing date, and the earnest money deposit.

Contingencies

Contingencies are terms of the sale that give you a ‘way out’ of the contract without losing your earnest money. A common contingency is the home sale contingency. It gives you the right to back out of the contract if you can’t sell your home by the specified date.

Other contingencies include a home inspection, home appraisal, or financing contingency. Each option gives you a way out of the contract if you can’t meet the terms. But the more contingencies you have, the less likely a seller is to accept your offer.

Closing Date

The closing date is when you propose to have your financing in order and can take possession of the house. Every seller has a different timeline, so it helps to know what they need when proposing a closing date.

Earnest Money

The final part of your contract is your earnest money. This is the amount you promise to put down in an escrow account. If you back out of the contract for a reason other than a contingency, you will forfeit the earnest money, giving it to the seller. This shows sellers how serious you are about buying the house.

Step 5: Order the Inspection and Appraisal

Once you have an executed sales contract on a property, you can order the inspection and appraisal. An inspection isn’t required to get loan approval, but it can protect your investment.

If the home has major issues, you may want to request that the seller fix the issues, renegotiate the contract, or you may want to back out of the sale altogether.

The appraisal is required by lenders as it determines the home’s value. It’s what we use to determine your loan amount. The home must be worth at least as much as you’re borrowing. If it’s not, you have a few options:

  • Renegotiate the sales price to meet the appraised value
  • Pay the difference between the sales price and appraised value
  • Back out of the sale

Step 6: Finish Underwriting

While you wait for the appraisal, you can satisfy your other conditions. Using your pre-approval letter, determine what is needed to clear your loan to close.

The underwriter will take care of clearing the property’s conditions, including ordering the appraisal and title work.

Your job is to provide any outstanding documentation, keep your credit in good standing, and don’t make any major financial changes.

Verifying your Conditions Before Closing

Right before the closing, the underwriter will pull your credit again, reverify your employment, and check your assets.

To keep your approval, make sure you take care of your credit, don’t change jobs, and don’t make any large deposits or withdrawals from your bank accounts.

Communicate with your Loan Officer

In the meantime, make sure you stay in contact with your loan officer. He/she is the key to communicating any outstanding conditions or documents. The faster you can satisfy any conditions, the faster you’ll get to the closing table.

Step 7: Close on your Loan

Your final step is to close and become a homeowner! By the closing date, you’ll need a paid-in-full receipt for 12 months of homeowner’s insurance and a cashier’s check or wire for the amount of your down payment and closing costs.

At the closing, you’ll sign a stack of papers that include your new mortgage and note so you understand the obligation you’re taking on and the consequences of not paying your loan back.

Final Thoughts

These 7 steps help you navigate your way from thinking about buying a house to becoming a homeowner. With our support, you can buy your dream home and have a stress-free time securing your financing.

Our professionals are ready to help you understand your loan options, how to qualify for a loan, and to walk you through the process once you find your dream home and are ready to close on your loan.