Overview: Buying a Home
Whether you're a real estate investor, someone looking to buy a vacation property or a first-time home buyer, getting a property loan can be a difficult process. At Southpoint, we know that loan documents are hard to understand, and not every home-purchasing situation is the same. That's why we offer a variety of services to help your home buying process go smoothly and hassle-free.
First-Time Home Buyers
At Southpoint, we start by walking you through the entire purchase, ensuring you understand every step and are comfortable with every phase of the process.
We also have in-house underwriters. This means that your loan officer can communicate directly with the underwriter to avoid unnecessary delays. We offer loans and down payment assistance through county based programs. We can also help lower your down payment with FHA and Home Possible.
Real Estate Investors
As someone who makes real estate investments, you face a different set of challenges compared to first-time home buyers. You may need a lower loan-to-value ratio, a 20% down payment and six months of reserves. Our investment property loans can help you with any issues you may encounter in real estate investing.
You'll also enjoy the convenience of in-house underwriters that will help make the process faster and avoid delays. Our loan officers can help you understand every step regarding your investment in real estate - and we offer much more. In fact, we may be able to help you qualify for investment property loans due to a home's current renter. We can also check if you're eligible for Fannie Mae options to make the process more affordable.
Help for Buying a Second Home
Just because you're not a real estate investor doesn't mean you won't buy a second home. Buying a vacation home, for instance, is quite common. Since this won't be your primary residence, you'll need to meet strict underwriting guidelines. At Southpoint, we can make this easier for you.
Buying a second home usually requires high credit rating, and you'll definitely need a lower debt-to-income ratio. You'll also need a 10% down payment and six months of cash reserves. We can help you get your second home mortgage and assist you in buying your second home.
You'll have access to our loan officers and in-house underwriters. If you need a real estate agent referral, we'll even help with that. We also offer free worksheets, because regardless of where you get your second home mortgage from, we want to ensure the process is a pleasant one.