Dreaming of your first home?
Here is what you need to know!
Set your budget – How much home can you afford? determine a monthly mortgage payment you are comfortable with (and will qualify for) and start there.
Understand your personal credit profile – How is your credit? Your credit
profile will impact the loan programs you are eligible for.
Apply online – You can apply for your home loan here.
- Prequalification – This is a qualification of your credit profile and
loan terms based upon verbal review of income/assets/etc.
- Pre-Approval – This is a pre-approval of your documented income/ assets, and is a much more detailed qualification process.
Understand the steps involved in buying a home:
- Find a Real Estate Agent
- Find a home
- Finalize a sales contract
- Complete application, sign intital loan disclosures and provide required documentation
- Appraisal and Home Inspection
- Final Loan Approval
- Loan Closing
Volt will be with you during the entire process. Our mortgage professionals will communicate with you and answer any questions you have throughout your homebuying experience.
» Picture ID
» Proof of Social Security Number
» Address for the last two years
» W-2’s for the last two years and 30 days of pay stubs
» Last two months of bank statements to verify funds for down payment and closing and/or two months reserves
» Tax returns with all schedules for the last two years
» Property information for all owned real estate
» Estimated value of other assets
» Divorce decree if applicable