The first step is to complete an application for pre-approval. This can be done through our online application or by contacting one of our experienced mortgage officers. We will review your individual financial information, outline the mortgage program that works best for you, and show you what purchase price you could qualify for and the total estimated payment. We can also tailor a purchase price based on what payment you prefer. Once the pre-approval process is complete, you are ready to contact your realtor and start looking at homes. Once you have an excepted offer, we can complete an appraisal and obtain final loan approval. Lastly, we will complete the loan closing process and congratulate you on your new home!

While we may request additional information on a case by case basis, the most common documents needed are:

• Paystubs from the last 30 days
• Federal income tax returns
• Two monthly statements on deposit, investment, or other asset accounts

For added convenience, these items can be uploaded through our secure portal.

A mortgage preapproval is a statement of how much money a lender is willing to let you borrow to pay for a home or how much you qualify for based on your income and debts. To get preapproved, complete a mortgage loan application or contact one of our expert mortgage lenders.

A down payment is the amount of money you spend upfront to purchase a home, based on your qualifications that amount will vary.

Escrow is the portion of your payment that is collected to pay your homeowners insurance, real estate taxes and any mortgage insurance premiums as they come due. Escrow accounts are required on most loans but can be optional.

You may think or have heard that mortgage interest rate are currently high. It is important to remember that rates fluctuate over time and it is typical for home prices to go up when rates are lower. It could be to your benefit to buy now and refinance your loan when rates are lower while also taking advantage of the home equity you have gained.

When rates go down, you may reduce your monthly payment or shorten the term of your loan. Generally speaking, you want the rate to be 1 – 2% lower than your current rate. The smaller your loan amount, the more rate reduction is beneficial. Our experienced mortgage officers can review your current loan and provide guidance based on your individual situation.