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Funding is one of the more important steps when buying a home, if not the most important. Even when you have money in the bank, you are going to need more than what you have to make sure that your enterprise keeps running.

In turn, you rely on banks and other financial institutions for additional finances. Before making any decision, it’s important to recognize what is important to what’s not. Here are the things that should factor when selecting the right financing option for your business:

  1. Interests and Fee Structures
  2. If there is anything that could ruin your financial strategy, it’s unexpected costs. Don’t just take the banker’s word for it and do the math. Add up all the costs within the financial option to know how much you’ll be paying exactly.
    Loans usually involve interest rates, origination fees and broker fees. Money borrowed from venture capitals, however, is manageable at first and testing in the end. You are not required to repay them for years on end, but the investor will expect you to pay all of it all at once.

  3. Financing Requirements
  4. Each lender will investigate your credit history and perform other financial background checks to make sure you’re good at your word. If the requirements are too rigid, try scouring for another lender. Make sure to discuss with your financer your background before preparing your loan application.

  5. Repayment Terms
  6. The reason you’re getting funds is to cover your short-term needs and pay them in the future. Longer loans build interests over time, but shorter loans require large amortizations. An expert’s advice would be a higher allocation to minimize the long-term cost. This way, you can use your money on equipment and other investments your company needs, and not more payments.

There’s no one good approach in finding the right financing option. Different homeowners will need varying amounts of funding, and yours might need something different, as well.

At Altius Mortgage, we pledge to provide you with the absolute best service, the lowest rates and the most comprehensive communication. Contact us and let our team help you in searching for the perfect kind of financing for your needs. You can also use our ‘Chat Option’ in the lower right hand corner of our website.

April 12, 2015

Things That Must Factor When Choosing the Right Financing Option

Funding is one of the more important steps when buying a home, if not the most important. Even when you have money in the bank, you are going to need more than what you have to make sure that your enterprise keeps running. In turn, you rely on banks and Read More
September 13, 2013

First Time Home Buyer in Utah? Quick Tips for Scoring Your Dream Home

A report by Investors.com reveals that while this year might be a great time to buy a house, certain market conditions, particularly rising home prices and tight competition with cash investors, are making things more difficult for new home buyers to get into the game. Moreover, other groups with money Read More
August 13, 2013

A Window of Opportunity for Your Dream Home: Finding Suitable Mortgage Rates in Utah Through Reputable Mortgage Lenders

Freddie Mac recently reported that the average rate on a fixed-term 30-year mortgage has dropped from its record two-year high of 4.51 per cent to settle on 4.37 per cent. The dip came following the Fed’s announcement last week that it will delay the tapering of aggressive bond buying, news Read More
August 9, 2013

The Utah First Time Home Buyer: The Niche That Keeps Real Estate Alive

Recent reports say that the number of first-time home buyers have been on a decline lately. In May, the National Association of Realtors (NAR) reports that first-time home buyers only accounted for 28 percent of existing-home deals, down from 34 percent in 2012. For the real estate market, this is Read More
July 13, 2013

Altius Mortgage Featured On ABC 4 News

Altius Mortgage’s Dave Monson was recently interviewed by Brian Carlson with ABC 4 News about the recent spike in home mortgage rates. If you are in the market, or you have been sitting on the fence now is the time to buy. . HOME MORTGAGE RATES SPIKING . (more…)