Get pre-approved
For anyone without a mountain of cash (which is most of us), the first step will be to determine how you're going to finance the home purchase. For most buyers, this will come in the form of a mortgage from a bank or loan company.
And the first step to this financing is getting a pre-approval letter. You can use it to tour homes in your price range and make an offer if you see one you love.
Take the first step to becoming a home owner. Get pre-approved online.
Understand interests rates and loan costs
If you're like most people, the interest rate and costs of the loan are a main consideration. Get a mortgage quote today by making one single online request. We offer competitive rates and flexible terms so you can close your loan with ease.
Work with one of our trusted Home Lending Advisors
For most borrowers, the best rates are the primary factor when considering a lender, but finding a lender who is both helpful and responsive could make or break your home buying process. We want you to feel you feel comfortable discussing personal financial information with the lender that will be work with you throughout the full process. Schedule an appointment today to meet one of our trusted Home Lending Advisors.
Get pre-approved
Your real estate agent is your partner and a valuable asset. They know the neighborhoods and schools and will help negotiate a fair price for the house you want. Our Lending Officer can answer questions about how much you can comfortably afford and provide guidance at every step. Get opinions from those you trust, such as your family and friends.
Understand your costs.
In addition to your monthly mortgage payment, you also pay interest, taxes, private mortgage insurance (if your down payment is less than 20% on a conventional loan) and several one-time fees at closing. These closing costs typically range from 2-6% of the total amount of the mortgage loan. Make sure you know the total cost.
Know your score.
A good credit score increases your chances of being approved for a mortgage and may lower your interest rate. If your score is low, try to improve it by making your payments on time, paying the monthly minimum (or more) and keeping your existing credit card accounts with zero balances open.
Estimate how much you can borrow.
You can get an estimate of how much you'll be able to borrow by being prequalified for a mortgage. You will need to provide some basic financial information and a lender determines how much you may borrow. Prequalification is simple and usually can be done in one conversation. You may choose to start a prequalification online or speak with your local Cumulus Home Lending Advisor.
