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Are You Ready to Buy Your First Home?

As a first-time homebuyer, begin by making sure that you are prepared to buy a home. Start by asking yourself the questions below to help you avoid any surprises or setbacks once you get further along in the process. It’s the smart way to go from being a first-time homebuyer to becoming a first-time homeowner!

Why do I want to buy a home?

It could be as simple as wanting to get away from ever-increasing rental fees and building equity in a home. Perhaps you’re seeking a better neighborhood with better school districts. Determine what’s important and what you want to accomplish as a first-time homebuyer.

How long do I expect to stay?

Buying a home should be considered a long-term investment—one that involves upfront costs. Plan on staying in your home for at least 5–10 years to build equity and recuperate moving expenses and closing costs.

Do I have steady income?

Proving that you can afford the home will be crucial to qualifying for the loan. Also, consider the ongoing cost of owning a home to ensure that you can make payments without incurring significant debt.

Do I have enough for a down payment?

Let’s do the math. Closing costs are approximately 2–5% of the purchase price plus a down payment of 5–10%. The good news is that there are programs to help a first-time homebuyer.

What about repairs and upkeep expenses?

Calling the landlord to fix a broken air conditioner or leaky roof isn’t an option once you become a first-time homebuyer. We recommend setting aside 1% per year for unexpected repairs and expenses.

What is my credit score, and how will it affect my loan?

Find out your credit score and resolve any issues that are affecting it. The higher you can get the score, the better your chances for loan approval and getting the best rate.

The Mortgage Process

Step 1 Get Prequalified

It’s a lot easier to shop for a home when you know how much you can afford. Our mortgage pros can examine a few factors to get you prequalified.

  • Income – How much do you earn from your job and other sources?
  • Debt and Credit – How much do you owe and what’s your payment history?
  • Assets – How much do you have saved and invested? Do you own property, etc.?
Get Prequalified

Step 2 Find a Home

Now that you have your prequalification letter, you can work with a real estate agent to find the home that fits you and your family’s needs and lifestyle.

Step 3 Make an Offer

You’ve found it! Work with your real estate agent to determine what you want to offer based on other comparable homes in your neighborhood. Once the home passes inspection and the price and any fixes have been agreed upon, you have a signed offer.

Step 4 Apply for a Mortgage

Well, you’ve already found the best place to get a mortgage. Let’s convert your prequalification to an official application! Our mortgage professionals will review all the details with you, including rates, closing costs, and required documentation.

Step 5 Get Approved

We’ll take it from there! Our team will order an appraisal to verify the home’s value, conduct a title search, and verify your income and assets. Finally, we’ll calculate your monthly payment, which will include homeowner’s insurance, tax payments, etc.

Step 6 Close on Your Home

It’s the day you’ve been waiting for—closing day. You’ll meeting with the closing attorney or title company to sign several documents. Then, it’s official. Get the keys and enjoy your new home!

Estimate Your Rates

Complete the form and we will create customized quotes based on your loan details.

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