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First Time Homebuyer

Become a Homeowner

You may qualify for programs that will lower your costs both upfront and monthly, making the goal of homeownership closer than you might think.

 

  • Qualify for down payment assistance and below-market rates
  • Pay the same or less per month than what you currently spend on rent
  • Options with low down payments and flexible credit requirements available
  • Start building equity now for a sounder financial future

First Time Homebuyer Checklist

It’s the biggest purchase of your life. And online research only goes so far. Reach out for personalized, expert advice.

  1. Get a Pre-Approval
    Start your home search with confidence. Know exactly how much you can afford and take the opportunity to have all your mortgage questions answered before you start shopping.
  2. Find a Home
    Your mortgage banker will match you with a local real estate agent who will share home search insights, making the decision on the perfect home easier.
  3. Make An Offer
    Your real estate agent will guide you through the steps to make your first offer. They will advise you on offer requests, such as seller-paid closing costs.
  4. Easy Apply
    Once your offer has been accepted, it’s time to apply. You’ll be on your way to an official loan approval in 20 minutes or less.
  5. Trust Your Team
    Your mortgage banker and processor will educate you on the loan process and keep you informed from start to finish.
  6. Time to Close
    Your mortgage banker will review the amount you need to bring to closing, your real estate agent will conduct a final-walk through with you, and then it’s time to go to the title company to sign all your documents. When it’s all done, you're handed the keys!
Get Pre-Approved

First-Time Homebuyer FAQ

Get answers about buying your first home, getting a mortgage, and the closing process.

What will a lender look at when I apply for a mortgage?
Lenders consider many factors when evaluating your loan application, but they usually focus on four areas: Income and debt: How much money you make and what other bills you have to pay helps the lender determine if you can afford to make mortgage payments. Assets: This assures the lender that you have enough money to cover the costs of buying a home. Credit: Whether or not you've met past financial obligations helps the lender predict whether you will repay your mortgage. Property: The home you want to buy has to be worth enough to act as collateral for the mortgage. Loan decisions are often unique, so if you're unsure of if you'll qualify and how much mortgage you can afford, call us today for advice custom to you.
What does it mean to get pre-approved?
Getting pre-approved means a mortgage company reviewed your credit and cash flow to determine your affordable loan amount range. Unlike a rate quote, a pre-approval is custom to your financial situation, so sellers can see that you're a qualified buyer. The pre-approval process is quick and easy. United Home Loans offers same day pre-approvals, so you can start home shopping right away. Get started here, and call us if you need help navigating loan options.
What if I've had credit problems?
Your credit history is only one factor in qualifying for a mortgage, so late payments doesn't necessarily disqualify you. There are a variety of mortgage options to help people with less-than-perfect credit become homeowners and leave credit challenges behind. Call us for help getting on the path to home ownership.
What is the minimum down payment I can make on a home?
Many first-time buyers believe they need as much as 20% of a home's purchase price in cash. That may have been true in the past, but now mortgage loans are available with as little as 3% down. With housing prices as high as they are, homeownership would be impossible for many people without low down payment options. United Home Loans has a number of loan options that can help you buy a home with little cash. Call us if you need help determining what loan is best for you.
United Home Loans is both a mortgage banker and a mortgage lender. How does this benefit me?
As both a mortgage banker and lender, United Home Loans has the ability to shop dozens of banks and lending institutions to ensure that you receive the best possible interest rate and loan program. We search for the lowest rates, so you don't have to. Plus, with in-house processing and underwriting, decisions regarding your loan are handled locally from start to finish. Call us with any mortgage question and see why we're the best.
Where We Lend

We're proud to serve 20 states with local offices in Chicago and Nashville.

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Pre-Approval

Take the first step toward buying with a pre-approval.

Get Pre-Approved
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Expert mortgage advice is only a few clicks away.

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