Home Buying 101
Shop For Your Home With Confidence
Whether it's your first time purchasing or you're looking for a refresher, we have the tools you need.
First Time Purchasing a Home?
The Loan Process
- Figure out a savings plan for a down payment
- Check your credit score
- Don’t take on new debt
- Make sure bills are paid on time
- Clear up financial disputes no matter how old or small
Refinancing May Be Right For You
- Reduce your interest rate and monthly mortgage payment
- Change from an Adjustable Rate Mortgage to a Fixed Rate Mortgage
- Access the equity in your home
- If applicable, eliminate or reduce private mortgage insurance
Our mortgage loan officers can recommend refinancing options that will get you closer to your goals.
Are You Ready to Move?
Have Questions About Home Loans?View All FAQs
The home you can afford is based on the amount of mortgage loan you can comfortably support. Generally, the amount of mortgage you qualify for is based on some basic information such as: your income, debts, assets, credit history, current employment situation, and any other obligations you may owe. Another factor that will impact the amount of home you can afford is how much cash is required for down payment and closing costs.
Try our “How Much Home Can I Afford?” calculator to get an estimate and see how much you can potentially afford.
Getting prequalified for your mortgage is an important step before you shop for a home. It tells you how much home you can buy and makes applying for your mortgage easier. A mortgage prequalification can also give you additional leverage with a seller in negotiating the best possible terms of the sale.
First-time home buyer programs are for individuals who meet certain income requirements, who are financing property in certain census tracts, or who meet other special requirements. We participate in special loan programs throughout the state and USDA Rural Housing Loans. Benefits include:
- Lower down payments than most other financing options so you will not need as much cash to buy a home.
- Competitive interest rates.
- Reduced closing costs and mortgage loan fees.
Other restrictions may apply.
Generally, you must complete a full mortgage application in order to lock a rate. You can work with your loan originator to discuss your mortgage options. He or she will also help you complete the application and lock in a rate when you are ready.
Closing costs generally range from 2% to 3% of your loan amount. Closing costs can be divided into three main categories:
- Lender fees. Fees can include origination and points.
- Third-party fees. These fees vary by state and the attorney you select to close your loan. They can include attorney’s fees for closing, title exam, credit report, appraisal, title insurance and recording.
- Prepaid items. These are items collected at the time of closing but are not really considered costs including interim interest, taxes, and hazard insurance.
You will be provided with an estimate of your closing costs soon after your application has been received. These estimates could change if you change the product type or loan amount.
Stories and Insights
- All loans are subject to credit approval.