Learn

Not sure how much you have to save up, what kind of payment you can afford, or even how mortgages work? If so, you’re not alone. We’ve put together some helpful tips for people just like you, and all you have to do is check out our guides to learn what it will take to reach your goals.

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Prepare

One of the first things lenders will look at when you apply for a loan is your credit score. This number is based on your past spending and borrowing habits and shows your ability to pay rent and car payments on time. The higher your number, the easier it is to qualify for a loan, and better credit scores typically mean lower interest rates, which could save you thousands of dollars over the life of your mortgage.

 

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Guides and resources

Get Mortgage Ready

Learn how to get in the best financial shape possible before applying for a loan.

Understand Your Credit Score

See what the numbers mean, if yours is high enough, and if not, what steps you can take to raise it.

Mortgage Loan Options Guide

Read all about the different kinds of loans we offer and find one that makes the most sense for you.

5 reasons to stop renting

Smaller payments

Surprise! Since mortgages are paid over such a long time, your monthly house payment may actually be hundreds less than you pay in rent.

Lower taxes

Depending where you live, you may be able to deduct part or all of your property taxes and mortgage interest on your taxes.*

*Not intended to be tax advice. Consult your tax professional.

A smart investment

The longer you pay for your home, the more of it you own. (That’s called equity, and it can increase your net worth.)**

**Not intended as financial advice. Consult your financial adviser.

Community 

Living in a neighborhood gives you a whole network of friends and connections.

More control

When it's your house, you get to choose what goes on the walls, what hangs from the ceilings, and who comes in and out your doors (kids/pets/friends).

Credit score ranges

Excellent: 750+
Good: 700-749
Fair: 650-699
Poor: 600-649
Bad: Below 600

 

No matter where your current number falls, there are ways to improve it. It may take time, but once your credit score rises, it’ll be a much faster, smoother path to buying a home!  


Here are four small steps that can make a big difference.

 

  1. Make sure you pay bills on time every month.
  2. Need to establish credit? Open a secured credit card and use it to make small purchases. (See Wallethub for more info.) 
  3. If you have debt, pay off as much as you can, and try to keep your balances low.
  4. Look up your current credit score on AnnualCreditReport.com. It’s free!

 

Want more help putting together a personal plan to qualify for a loan? We’d be happy to help. Just get in touch with a loan officer near you.

 

Go!

Congratulations, you're ready to apply! But first, use the following checklist to pull together the financial information your lender will need. Any questions?  Please give us a call and we’ll be happy to explain.

 

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Mortgage application checklist

  • W-2s for the last 2 years (or 2 years of tax returns if you’re self-employed)
  • Pay stubs for 1 month
  • Bank statements for 2 months
  • Driver’s license or government-issued photo ID
  • Child support or alimony payment agreement (if applicable)
  • Other income information
  • Purchase agreement if you have one

    You’re closer than you think to buying a home, and we’re here to help. Just find a nearby branch or apply online, and someone from our team will walk through the process with you.

    Understand your loan options

Get in touch.

If you’re still confused or want to talk to a real person, please give us a call. Our friendly loan officers will be happy to chat and tell you everything you want to know.

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