Purchasing

Holding the deed to your dream home starts here

Whether this is your first home, next home, or extra home, we can get you there faster and with more options. The best person to discuss the first steps toward owning a home is your Loan Officer.

Build Wealth

Build Wealth

You're living in your most secure investment when you own a home. Home values rise and fall short term but tend to increase long-term. Staying in your home long-term can be very rewarding to your pocketbook.

Build Equity

Build Equity

Each mortgage payment is an investment in your future goals. You own more of your home, and your lender holds less as you pay your loan. This is how you build equity. You can then use your equity for more buying power to buy your next home or even convert it to cash. Check out our Refinancing page for more information.

Tax Deductions

Tax Deductions

Take advantage of tax deductions you're entitled to as a homeowner. You'll gain new costs like interest on your mortgage and property taxes. These costs might be deductible from Federal and State taxes.

**Consult a tax professional for more information.

Strengthen Credit History

Strengthen Credit History

Paying off your mortgage makes you an attractive borrower. Your credit will build over time and prove you are a responsible borrower. That will help you when you want to make other big purchases, like a car, renovations, or starting a business.

Create the home you want

Create the home you want

Have a home that reflects who you are and what you value. Want a pet? Want to paint the cabinets? Want new appliances? You make the rules. Create the exact home you want to live in.

Questions to Consider as a Homebuyer

Questions to Consider
as a Homebuyer

The answer to this question depends on many factors. Your first step is getting pre-qualified to understand what you can afford. Our Loan Officers will guide you through the process so you can start the fun part: looking for your dream home.

This all depends on what your goals are. Owning a home can work for everyone. You have access to a wide array of flexible loan products to meet your needs. Our Loan Officers will help you choose the right mortgage that best suits where you are and where you want to be.

Your home serves your needs. Getting clear about your needs will help you get into your dream home sooner. Your ideal monthly mortgage payment, neighborhood, yard, or school district are all examples. This will help your real estate agent and Loan Officer find a home and loan program right for you.

It all depends on your lifestyle and goals. Some people get vacation homes, like a cabin in the mountains or a cottage on the beach. How you use the property determines loan structure. If you plan on renting out your home, it is an investment property and will need a different type of loan. Your Loan Officer is the best person to guide you through the process.

Pre-Qualification
Making An Offer
Mortgage Process
Closing
Making Payments

The first step toward a home purchase is getting pre-qualified for a loan. Your Loan Officer will review your financial information and determine how much you are qualified to borrow. As a pre-qualified buyer, your offer on a home is more likely to be accepted. 

Loan Preparation Checklist
  • Copy of photo ID
  • Social Security number
  • Copies of checking and savings account statements for the past 3 months
  • Most recent pay stubs detailing your last 30 days of employment
  • Federal tax returns with W-2s, K-1s, 1099 for the past 2 years
  • Evidence of any other assets such as stocks and bonds
  • Contact name and address of someone who can verify your employment

Since everyone’s situation is unique, additional documentation might be required. Your Loan Officer will let you know exactly what is needed. 

Once you have found a home, you will make an offer to buy it from the seller. A real estate professional will conduct negotiations and a contract will be submitted to purchase, accompanied by the pre-approval letter. Once your offer is accepted, you will begin the application process. 

When the seller accepts your offer, you begin the mortgage process. Your Loan Officer will gather your financial information, loan application, and provide the initial disclosures based on your loan terms.

This process will also include:
  • Ordering the appraisal; estimating the value of the home
  • Ordering/updating your credit report
  • Submitting your loan to Underwriting for review
  • Conditionally approving your loan (additional documentation might be requested)
  • Providing information on homeowner's insurance and selected title company
  • Underwriting approval on all accepted documents
  • Final loan approval - you are cleared to close

Your loan officer will keep you informed, answer your questions, and navigate you through the loan process. 

In the days leading up to settlement, you will be sent final documentation about your loan, including the Closing Disclosure. Your must review, sign, and return the paperwork a minimum of three days prior to your schedule closing date. 
Your Loan Officer, or their team member, will tell you the amount of money you need to close on your home. 

What happens on closing day:
  • Meet with your settlement agent as well as your Loan Officer or team member
  • Provide funds to the title company to cover your down payment, closing costs, taxes, insurance and other costs
  • You and the seller will execute all closing documents so the settlement agent can properly record the purchase of your home

Your settlement documents will include instructions on how to make your first payment. While Prestige Home Mortgage services many of our loans, it is possible servicing will be transferred. You will be mailed a notification that designates your mortgage servicer. If you have any questions, you can always contact (800)960-7107.

Learn more about home financing

Home Refinancing
Renovation and Construction

There's No Place
Like Home

You're one conversation away from starting your homeownership journey.
Schedule a call with our Loan Officers today.
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