Home Purchase

Find your way home.

Buying a new home is a very exciting adventure. It requires time and effort to choose the right home and qualify for the best mortgage. With ACG Funding, we will help you make the best decisions and ensure that your home purchase is a rewarding experience.

Contact our loan officers with any questions you may have along the way. In the meantime, here's some practical advice to get you started on the right path to buying your home.

Plan your move

Should I buy or rent?

Many factors can determine the right time to buy or rent, depending on the housing market, financial situation, and where you are. You must consider all pros and cons for buying and renting to decide if you are ready to be a home owner.

Can I manage the payments?

Although it is not unusual to qualify for more loans than you may comfortably be able to afford, we suggest you borrow with caution. Our easy-to-use mortgage calculator will assist you in determining how much you could afford.

What's the difference between pre-qualification and pre-approval?

Pre-qualification and pre-approval shows you are committed to buying a property. Pre-qualification gets you started by giving you an idea of how large a loan you will likely be approved for. Pre-approval is when the lender pre-approves you for a specific loan amount.

FHA or conventional loans?

There are many types of mortgage loans to consider; however, government-supported FHA and conventional loans are the most popular preferences.

What should be my down payment on a new house?

A down payment demonstrates your commitment and a larger down payment could help you secure a better interest rate — which means you'll have lower monthly mortgage payments.

What is a down payment?

The down payment is a percentage of the total price of your home that you pay up-front when you close the loan. A larger down payment can help you obtain a better interest rate and lower monthly mortgage payments.

Do you need help with the down payment?

Many government and housing agencies offer programs that can help you with the down payment. The requirements and availability of these programs differ depending on where the property is located.

What is Escrow?

Escrow is managed by a third-party and is designed to hold funds temporarily until the seller and the buyer complete the transaction. The funds are paid to the seller after the seller fulfills the escrow agreement. If the seller does not comply with the escrow agreement, then the funds are returned to the buyer.

Escrow accounts can also be set up to pay property taxes and insurance premiums of your new home.