Can You Buy a New Home without Breaking Your Budget?

house-435618_640For most of us, buying a new home is a serious commitment. However, there are a number of things that can be done during the process to make sure that your purchase won’t break the budget. Before you start thinking about buying your next house, take note of these money saving tips:

  • If a mortgage lender sees you as a risk, they may protect themselves by raising interest rates. As a result, if you want low interest rates and lenient loan conditions, you need to raise your credit score as much as possible before you apply for a mortgage.
  • Be sure to consult a mortgage broker with connections to a wide range of lenders. This way, you can maximize your chances of getting a loan that is well-suited to your needs but also sustainable with your monthly income and budget. Better still, you can get pre-qualified, which will make buying a new home much easier because it will provide you with increased bargaining power.
  • You are going to need to make a down payment if you want to get a mortgage. Depending on the type of mortgage you choose, your down payment can be as low as 0 percent, 3 percent, or 10 percent and more. However, you should save up to make the biggest down payment that you can, since a smaller principal means less interest over the course of your mortgage.
  • Similarly, you have a choice between a short and a long term loan. A shorter loan term means that you will pay more on a monthly basis, but save in the long run because of reduced interest. In contrast, a longer mortgage loan term is more manageable on a monthly basis, but can end up adding thousands of dollars to the total cost of the mortgage.
  • Generally speaking, you can save for your down payment the same way you save for anything else. Examples include but are not limited to eating at home, eliminating redundant services, and cutting back on life’s little luxuries.

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Northcash is an economic arm of the Fort Belknap Indian Community, a federally-recognized Indian tribe located in Hays, Montana. The Tribe and its businesses have governmental sovereign immunity and have not and are not waiving that immunity for any purpose associated with the consumer lending business of Northcash and therefore Northcash is not subject to suit by you or any third-party for any reason. CAUTION: IF YOU ARE NOT COMFORTABLE DOING BUSINESS WITH A SOVEREIGN INDIAN TRIBE THAT IS NOT SUBJECT TO SUIT, YOU SHOULD IMMEDIATELY DISCONTINUE USING AND ACCESSING THIS SITE. We may from time to time in our sole discretion and without notice to you modify the terms of this Agreement and/or change the rules that govern your use of our Site.

Who is providing this notice?

North Star Finance, LLC d/b/a Northcash, an economic arm of the Fort Belknap Indian Community.

This is an expensive form of borrowing, and it is not intended to be a long-term financial solution. Northcash loans are designed to assist you in meeting your emergency borrowing needs. The Annual Percentage Rate (APR) applied to your loan will vary depending on the pay period with the maximum APR on any Northcash loan being 795%. This is a term installment loan with approximate equal payments, but you have the right to prepay at any time. Any instances of late or non-payment may be subject to additional fees, such as NSF and late fees, as well as collection activities Before borrowing, we ask that you assess your ability to repay the amount you borrow.

You acknowledge that by submitting and completing the loan application that you are applying for a loan. We verify loan applicant information through credit reporting agencies such as Clarity, Factor Trust, and DataX. We may obtain your credit information in order to determine your eligibility and ability to repay.

Northcash does not lend to residents of Arkansas, California, Georgia, Maryland, Minnesota, Montana, New York, Pennsylvania, Virginia and West Virginia, or to members of the military or their dependents.

The availability of online installment loans are subject to change at any time at the sole discretion of Northcash.


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