Your first home purchase will be one of the bigger events of your life. Often, your home purchase is the result of several factors that are both emotional and practical. It’s a commitment to your chosen hometown or to where you grew up if you decided not to relocate. Feeling confident enough to buy a […]
South Burlington Loan Office, VT
Senior Loan Originator/Loan Center Manager
As manager of Union Bank’s South Burlington Loan Center, Ed believes customers deserve to work with loan officers they can trust to bring experience, understanding and commitment to the mortgage loan process. An experienced business entrepreneur and mortgage loan originator, Ed understands the importance of helping his customers fully comprehend the loan programs that Union Bank offers. Proud of his strong team of mortgage professionals and their ability to communicate and convey Union Bank’s loan programs at the highest levels possible, Ed believes being approved for a mortgage is a big step and may be the single largest financial decision in a person’s life, regardless if it’s their first home or fourth. Ed’s commitment to his customers is to be available when they need him and to find the best solutions to meet their needs.
2016 Associate of the Year – Home Builders Association of VT.
“Ed was great to work with throughout the loan process, he made the process go seamlessly.”
How do I know how much house I can afford?
Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value. Give me a call, and I can help you determine exactly how much you can afford.
What is the difference between a fixed-rate loan and an adjustable-rate loan?
With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to us.