Homeownership is about security, comfort, and fulfilling the American dream. The sense of community that comes with putting down roots in a place of your own, the security of owning the roof over your head, the opportunity for financial growth  all these accompany the choice to become a homeowner. But buying a home is also the single largest investment most people ever make. Along with all the benefits of homeownership comes the responsibility to manage that investment wisely.

The Benefits of Homeownership

The rewards of owning your own home include many benefits unavailable to renters. Among other things, homeownership allows you to:

•Start building wealth: Making a mortgage payment every month can help you to build up your equity stake in your home, contributing to your long-term savings and helping you solidify your financial future.

•Reduce your tax burden: The interest you pay on your mortgage is usually tax-deductible, which can lead to significant tax savings  especially in the early years of the mortgage term, when most of your monthly payments go toward interest. Make sure you consult your tax advisor about the deductibility of interest.

•Build your credit history: Timely mortgage payments can contribute to a positive credit history.

•Eliminate landlord hassles: You'll no longer have to fear non-renewed leases and rent increases.

•Make the house your own: Aside from zoning rules, Homeowner's Association requirements, and local building codes, you'll be free to decorate, remodel, and renovate as you wish

Financial preparation is the first  and perhaps the most important  step in the home buying process. Get ready for your purchase by taking a careful look at your finances, especially your savings, credit, income, and debt.

Down-Payment Options

Buying a home doesn't necessarily mean having to make a large down payment. Our professionals at Vault Financial provide a variety of low- and no-down payment options that can help you buy a house using little or no cash.

If you have a down payment goal in mind, you'll reach it more quickly if you stick to these simple rules:

•Pay yourself first. When you pay your monthly bills, the first check you write should be to your savings or investment account.

•Avoid unnecessary purchases. The less you spend on big-ticket items that you don't really need, the sooner you'll become a homeowner. Keep that goal in mind when you shop.

•Set realistic goals. Take an objective look at your monthly income and expenses, and decide how much you can really afford to put aside. If saving for a home causes you

Now that you have taken the time to educate yourself on buying a home, the next step is to fill out our online application and gather the necessary forms to qualify you correctly. It is important to work with our team efficiently and accurately

These are the things to gather.

Last two years of W2's

***If Self employed, please forward last two years of tax returns, along with all schedules****

Last 30 days of most recent paystubs

Last 60 Days of banks statements

 *** it is important that we receive your actual statement, not an online printout. Please note for proper verification we will need to see full account number, name and address. In a purchase, the down payment must be traced fully****

Taxes must be filled; it is becoming more standard for lenders to require borrower’s tax returns, even if they are not self-employed. Please have the last 2 years 1040's ready.

If you have any questions please call

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