Home Mortgage Helpful Info

Helpful Information When Buying a Home

Automated Underwriting

With Automated Underwriting, you can go from looking to buying in a flash.  We’re able to take your application, check your credit and give you an underwriting score right on the spot (for most situations). We’ve had this service for years, and like always, it’s at no cost to you. Even though it’s fast, we’ll still do a thorough job of evaluating the best loan program for your situation and give you all the details so you know what you can afford and how to best go about finding a home in your price range.

Pre-Approval Process

Getting pre-qualified or pre-approved before looking for a home is essential. The process is simple, fast and probably the most important step in the home buying process. This process helps take away most of the guess-work.

  • Close more quickly.
  • Know how much you can afford.
  • Know what items need to be addressed.
  • Know what loan program best fits your needs.
  • If you’re selling and buying, know how much equity you’ll have to use for your new purchase.

Advantage – close more quickly.
Price – know your price range.
Power – learn how to stretch your buying power.
Reality – make buying a home a reality.
Owners – they’ll know your offer is serious.
Value – no cost for this service.
Essential – this may be the most important step to buying a home.
Deal – negotiate a better deal.

What to Bring When you Apply

With our reduced documentation loans, there is very little for you to bring when you apply. Bringing the following will make the processing faster:

  • Pay stubs for 30 days
  • Tax returns and W-2’s for the previous 2 years
  • Bank statements covering 2 months
  • Retirement account statements for the previous quarter
  • A list of debts including monthly payments and balances owing

Other items may be necessary depending on the situation and the loan program that works best for you.  To complete an application, print the form below and return to us.

Helpful Homebuyer Hints

  • Get Pre-approved.
  • Don’t try to out-guess interest rates. Rates can change several times per day or week. Don’t convince yourself that rates will drop “one more time” or “come back” because there are no guarantees.
  • Choose the right loan program. Each person’s needs are unique; let us help make the right fit for your situation.
  • You may be able to buy a home with 0% down subject to the location of the home, income restrictions and credit score.
  • If short on cash, ask a parent for a gift or borrow against an asset if you need money for closing.
  • Avoid mortgage insurance by structuring an 80/10/10 loan.
  • Have the seller pay your closing costs. A seller contribution to pay closing costs can keep your loan closing more affordable. Make sure to have the Realtor write it in the purchase agreement.
  • If possible, reduce your loan to 15 or 20 years. You will benefit from a lower interest rate and will save yourself thousands of dollars.
  • Make your loan affordable. The more we know about your situation, the better your loan will fit your needs.