A mortgage is a loan used to purchase real estate, such as a home. The borrower agrees to pay the bank over time, typically in regular payments divided into principal and interest. The property serves as collateral to secure the loan.

You will need proof of income, credit history and an acceptable debt-to-income ratio to qualify for a low-interest mortgage loan. But there are still options if you don’t meet all of these requirements. 

Reach out to one of our Mortgage Bankers

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to get started today.

A credit check is required to ensure that you are eligible for the loan along with a review of your income and assets. If you qualify, you will receive a mortgage pre-qualification letter that you can use to make an offer on a home. This shows the seller that you can get a home loan for the necessary amount from a reputable lender.

An interest rate is the annual cost of borrowing money expressed as a percentage. It does not include fees. The annual percentage rate (APR) is a broader measure of the cost, since it does include the interest rate and other fees you pay to get the loan. Talk to a loan officer and they can further explain interest rate vs. APR.

You can pay off your mortgage any time with no additional charges. None of the mortgage loan programs we offer (on a first mortgage) have penalties for prepayment.

Mortgage insurance makes it possible for you to buy a home with less than a 20% down payment. It protects the lender against the additional risk associated with low-down-payment-lending. With mortgage insurance you are able to put down as low as 3% of the home's value; benefiting those who want to get into a home but don’t have the cash for the down-payment on hand.

Once you have at least 20% equity in your home, talk to your loan officer about how you can either reduce your costs or possibly eliminate the need for mortgage insurance.

Yes. Reaching out to one of our Mortgage Bankers is a great first step. Getting pre-qualified before you begin your home search can give you an edge when looking for a home in a competitive buyers’ market. You’ll also know how much home you can afford.