We’re happy to answer more mortgage-related questions you may have. Feel free to email us by clicking on the “Information, please” link located at the bottom of the page.
HOME LOAN BASICS
- How much can you afford to borrow?
- Loan Application
- Loan Funding
The first question borrowers should ask themselves is: “How much of a monthly payment can I afford?” Take into account your credit score, credit history, income, debt and long-term goals. Then, use our mortgage calculator to estimate how a mortgage can affordably fit into your budget. Our loan officers can help you get you a good idea of the terms and loan programs you can expect to benefit most from.
Just like budgeting assesses how much you can afford to borrow, pre-qualification estimates how much money a lender may offer you – and shows sellers that you have the financial backing to secure a mortgage. To aid you in the pre-qualification process, we’ll ask you to supply us information on your employment, assets, residence history, and your credit score. After review, we’ll issue you a pre-qualification letter. Handle it with care – to a home seller, it’s like a suitcase full of cash!
After pre-qualification, your real estate agent uses your letter to make the best offer on the home of your choice.
Applying is easy and convenient, in person at one of our walk-in branches, or online. Once your agent has made an offer – and you’ve been accepted – we call for an appraisal of your home-to-be.
The last step of the mortgage process, your attorney and the seller’s work with an escrow/title company to handle the funding of your new loan after you’ve been approved. Our role is coordinating with the escrow company to ensure that the final lending stages – from paperwork to other essentials – are in order for you to sign at closing, paving the way for the next step: moving in to your new home.