Financing Your Home Purchase
Your Guide to Home Loans
Working with a trusted lender and staying informed throughout the loan process makes everything feel easier. Here’s how to get started:
- Talk to a Mortgage Specialist: Meet with one or two lenders to find someone you trust and feel confident working with.
- Stay Informed: Your lender will guide you from pre-approval to closing, but understanding each step along the way will help you feel comfortable and prepared.
- Know What to Expect: Review the steps below to get a better idea of what the home loan process looks like.
Get Pre-Approved
Before you start looking at homes, getting pre-approved is an important first step. In this market, sellers expect buyers to submit offers with a pre-approval letter—it shows you’re serious and ready to move forward.
**Get Pre-Approved – Start Here**
What to Expect
Your lender will review your income, assets, debts, and credit to determine what you qualify for. You’ll need to provide a few documents, like:
- W-2s
- Recent pay stubs
- Tax returns / Bank statements
Having these ready can help speed up the process.
Finding the Right Loan
There are several types of home loans, each with different advantages depending on your situation. Your lender will walk you through your options and help you choose what works best for you.
Estimate Your Monthly Payment
Estimate your mortgage payment, including the principal and interest, taxes, insurance, HOA, and Private Mortgage Insurance.
Price
Annual Tax
Loan Term (Years)
Down Payment %
Interest Rate %
Monthly HOA
Monthly Insurance
$3,198.20
Estimated Monthly Payment
Principal
$2,398.20
(75.0%)Taxes
$500.00
(15.6%)HOA
$100.00
(3.1%)Insurance
$200.00
(6.3%)
