First Time Homebuyers

We want to help you buy your first home. Learn more about our First Time Homebuyer program that we are now offering! 

Click the Get Started button to view current rates, contact a loan officer, or apply online today.

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First Time Homebuyer Program Requirements: 

• A First Time Homebuyer is an individual who meets any of the following criteria as set forth by the FHA:
  
  • An individual who has had NO ownership in a principal residence during the 3-year period ending on the date of purchase of the property. This includes a spouse (if either meets the above test, they are considered first time homebuyers). 
  • A single parent who has only owned with a former spouse while married.
  • An individual who is a displaced homemaker and has only owned with a spouse.
  • An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
  • An individual who has only owned a property that was not in compliance with state, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure.
• Purchase as a Primary Residence a 1-4 Family Home 
• Click here for current rates
• Minimum Credit Score of 720 for at least one borrower, if joint application
• 5% Down Payment

Mortgage Application Checklist

The following checklist indicates the documents required to process your loan request. By making sure we receive this information in a complete and timely manner, you can reduce the time it takes us to approve and close your loan. Please do not hesitate to call if you have any questions.

Residential Loan Application

• Complete in full with signature (s), addresses, account numbers, balances
• Copy of signed Sales Contract (if purchase money)
• Copy of Driver's License and Social Security card
• Mother's maiden name (both mothers' maiden names, if co-borrowers)

Income Information

• Authorization Number from employer (if required) to verify employment
• Pay stubs for the most recent 30 day period with Year to Date earnings indicated
• IRS W-2 forms and SIGNED tax returns for the previous 2 years
• Employment gaps explained
• If Self-Employed
  • Previous two (2) years SIGNED tax returns with all scheduled corporate returns, if applicable
  • Current and previous two (2) fiscal year-end financial statements Including Profit and Loss Statements

Deposit Information

• All major deposit/investment account information and account numbers and addresses
• Copies of previous two (2) months bank statements (major accounts)
• Gift letter, if applicable

Additional Documentation That May Be Required

• Divorce Decree
• Verification of Child Support
• Explanation of any potentially adverse credit ratings
• General information on other real estate owned-notes, leases, etc
• Rental agreements of leases
• Name an address of current and previous (if current is less than two (2) Years) landlords
• Partnership Agreements
• Copy of documents and explanation of money owed to you
• Settlement Statement from sale of home sold in the last year