When it comes to purchasing a home, you want to be as prepared as possible. Gathering all of the documents that you will need is a wonderful way to start. Most lenders require documentation and other information to complete your mortgage loan application. However, having your documents already in order speeds up the process.
Pre-qualifying for a mortgage is the initial step you should take in the mortgage process. To pre-qualify means that a lender has investigated your debt, income and assets and has given you an idea of the mortgage amount you will qualify for. This initial pre-qualifying step allows you to discuss any goals or needs you have regarding a future mortgage with your lender.
When it comes to purchasing a home, you want to be as prepared as possible. After pre-qualifying and knowing how much you can afford, it is time to begin the house hunt.
Making and offer or bid on a property is not just an important step. It is a law binding contract between you and the seller. Always remember that your offer will become contract very quickly. It is very important to understand and have everything that you want included in it.
Once negotiations are finished, the home inspection has been completed, and the mortgage has been applied for and committed to the purchasing the property, closing begins.
We offer our members several types of mortgage options. We work with you to find the best mortgage option to fit your finances and your needs.
Fixed Rate Mortgages
Are you looking for a consistent rate and predictable mortgage payment that always stays the same for the life of the loan? Our Fixed Rate Mortgage might be the perfect choice for you. Choose from a 30, 20, 15, or 10-year fixed-rate mortgage.
Adjustable Rate Mortgage (ARM)
If you are looking for a very low rate in the beginning and do not mind a fluctuating interest rate that changes after a pre-determined number of years, then you might want to consider our Adjustable Rate Mortgage. Choose from 3/1, 5/1, 5/5, 7/1, and 10/1 terms. You could include the 5/5 ARM in this section well.
If you are a first-time home buyer, our 5/5 ARM** mortgages are a great option for you.
Second Homes, Vacation Homes, and Investment Properties
Enjoy a 15-year term and up to 80 percent Loan-to-Value (LTV) on purchases and refinances on your second home, vacation home or investment property. Second homes and vacation homes have up to 30-year terms. It is only the Investment Properties that have a term limit of 15 years.
Super Conforming and Jumbo Mortgages
We offer our members up to 90 percent LTV on loan amounts over $417,000.00. If you are a first-time home buyer, our 5/5 ARM mortgages are a great option for you.
If you feel like you are ready to begin your home search, gather your financial materials and apply or pre-qualify. To pre-qualify means that a lender has investigated your debt, income and assets and has given you an idea of the mortgage amount you will qualify for.