How You Can Afford a New Home

Categories: Buying a New Home | Posted: October 25, 2017

Purchasing your first home is a huge financial decision. Thankfully, there are plenty of options for financing your dream home!

From pre-qualification to available options, we’ve put together your go-to guide for financing with McGuinn – and even highlighted some of our own great buying opportunities.

First Things First: Financing

McGuinn proudly partners with home mortgage experts in order to bring you the best deals and savings on your new home.

Before diving in, the first step is to become pre-qualified. So what does that mean? Essentially, becoming pre-qualified for a home mortgage gives you an idea of how much you can borrow. It’s an estimate that your builder and lender can use to help set your budget for your new home.

By taking care of this step first, it lets your lender research the best loan programs that you can qualify for – as well as the interest rate. Your pre-qualification is based on a few factors, including:

  • Credit score
  • Income
  • Any debts
  • Employment history

Once you’re pre-qualified and have your estimate, our financing specialist provides you multiple loan products to choose from and runs through the details of each choice. After that, you’ll have your loan interview with your new Mortgage Consultant.

McGuinn partners with Ameris Bank. You can explore the full list of different types of mortgages offered by Ameris by clicking here, but here’s a quick rundown:

  • Fixed-rate mortgage – Good for families who plan to live in their house for a long time and like the stability of monthly payments.
  • Adjustable rate mortgage – Good if you think you’ll only be in the home for a short period of time and expect your income to grow.
  • FHA loan – If you have less cash available upfront, this may be an option to consider.
  • VA loan – Available for eligible service members, this loan type offers special benefits for our veterans.
  • USDA loan – If you expect to buy a home in a rural area, this could be the choice for you.
  • First-time homebuyer loan – For those buying their first home, Ameris provides special offers and benefits.

Affordable Community Options from McGuinn

Home exteriorOnce you’re pre-qualified and have settled on your financing, it’s time to pick out the home and location you want!

We offer a variety of amazing communities, as well as an option to build on your own lot if you have a piece of land you’re eyeing. If you’re still looking for land, though, be sure to check out some of the communities we have that are quickly selling out. You don’t want to miss out on these prime locations.

With only seven spots remaining, Glen Eagle is a limited opportunity that’s selling out fast! Served by award-winning Lexington 1 White Knoll schools, this community is only seven minutes from Lexington and offers the market’s lowest prices.

Meanwhile, Phase 1 is close to selling out in Burnside Farms. Located in Columbia, Burnside Farms offers a charming environment combined with a great in-town location. The on-the-go homeowner will appreciate the close proximity to Shaw Air Force Base, USC School of Medicine, and I-77, along with plenty of shopping and entertainment options.

And even though Pleasant Springs is close to selling out, there’s still plenty of move-in ready options to choose from. Give us a call at (803) 917-5583 to schedule a time to tour this gorgeous community in the award-winning Lexington 1 school district, including Pleasant Hill and Lexington High schools.

Additional Options

Home interiorOf course, we also have spectacular deals on our available homes as well – and some new homes that are coming soon.

In Panorama Point, the Cleveland on Lake Murray is priced to sell at $849,900! This Lexington home will not last long, so don’t wait on this unique opportunity to be directly on the lake with boat dock access.

And if you’re a buyer looking for a single-story home in an all-brick community, keep checking back for more updates! We’re opening new homes soon in Lake Carolina at Centennial. We’ll share more updates as they come in, but for now click here to learn more about this up-and-coming location.

Have Questions?

As always, if you have any questions or want to learn more about these opportunities, don’t hesitate to contact us!

McGuinn Homes

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