Home Loans and Mortgages

Your borrowing amount depends on factors like income, credit score, existing debt, and your down payment. The type of mortgage also plays a role; for example, jumbo loans allow for higher loan amounts than conventional options.

The amount you need for a down payment depends on the type of mortgage you choose. Some home loan options allow down payments as low as 3.5% of the home’s purchase price, while others may require more. If you’re a first-time buyer, state and local programs may offer down payment assistance.

Closing costs are the fees you pay to complete the purchase of a home. They are typically 2% to 5% of the home's purchase price and may include loan processing fees, appraisal fees, title insurance, recording fees, and other costs.

When you apply for one of our mortgage options, your financial information will be reviewed to make sure you can comfortably make the monthly payments. You will need to provide recent pay stubs, W-2 forms, tax returns, bank statements, information about your debts, and other financial account information. If you are self-employed, you may also need to provide business tax returns, profit and loss statements, and other financial documents to verify your income.

Choosing the right home loan for your needs and budget can feel confusing. Different loan programs have different down payment requirements, interest rates, and benefits. One of our mortgage experts can review your financial situation, explain your options, and help you choose the home loan that best fits your needs.

After your mortgage is approved, the underwriting will be completed, and the loan documents will be prepared. You'll then receive a closing disclosure that includes your loan terms, monthly payment, and closing costs. At the closing, you'll sign the required documents, pay any remaining costs, and complete the purchase of your home.