Financing Your New Home

Financing doesn't have to be stressful. To simplify the process for you, we have put together information that addresses common questions, and selected a group of trusted, experienced lenders.

The Financing Process

When choosing a mortgage, it’s important to consider all your options carefully. The process can seem complex, but experienced loan officers will work closely with you to determine what type of home financing will fit your individual needs. Here’s a brief run-down of the process:

1 PRE-QUALIFY

Most homebuyers choose to start by requesting a mortgage pre-qualification from a lender. The lender will review basic credit and income information to give you an estimate of the loan amount you will qualify for. Once you choose a home and enter into a purchase contract, you begin the next stage of financing.
2 CHOOSE MORTGAGE TYPE

The mortgage process begins with a full loan application and a more detailed credit history. Your lender will advise you of the specific mortgage options available to you so you can decide on the best loan for you.

Mortgage Types

Here are some of the most popular mortgage programs

Fixed-rate and adjustable-rate options
Less than 20% down requires mortgage insurance
Available for primary residences, second homes, and investment properties

Fixed-rate and adjustable-rate options
As low as 3.5% down
Flexible qualifying guidelines
Mortgage insurance required in addition to the monthly premium
Primary residences only

For active duty, veterans, reservists, and surviving spouses
Fixed-rate and adjustable-rate options
No down payment option
One-time funding fee required; no monthly mortgage insurance
Primary residence only

Fixed-rate mortgage has a locked-in interest rate that cannot go up over the term of the loan
Terms range from 10 to 30 years
Available on Conventional, FHA, and VA
Good option for a long-term loan

Typically offer a lower initial rate and lower payments than a fixed-rate mortgage, but adjust and fluctuate along with interest rates
Available on FHA and VA loans
Good option for a short-term loan or if refinancing

Conventional
- Fixed-rate and adjustable-rate options
- Less than 20% down requires mortgage insurance
- Available for primary residences, second homes, and investment properties
FHA
- Fixed-rate and adjustable-rate options
- As low as 3.5% down
- Flexible qualifying guidelines
- Mortgage insurance required in addition to the monthly premium
- Primary residences only
VA
- For active duty, veterans, reservists, and surviving spouses
- Fixed-rate and adjustable-rate options
- No down payment option
- One-time funding fee required; no monthly mortgage insurance
- Primary residence only
Fixed-Rate
- Fixed-rate mortgage has a locked-in interest rate that cannot go up over the term of the loan
- Terms range from 10 to 30 years
- Available on Conventional, FHA, and VA
- Good option for a long-term loan
Adjustable-Rate (ARM)
- Typically offer a lower initial rate and lower payments than a fixed-rate mortgage, but adjust and fluctuate along with interest rates
- Available on FHA and VA loans
- Good option for a short-term loan or if refinancing

Preferred Lenders

We have worked with many lenders throughout the years so we know that finding the right professional who is knowledgeable and honest helps the building process go smoothly.

Below you will find our trusted lenders. These are tried and true, local professionals that always go above and beyond for our homeowners.