Nice home with a porch and two car garage

MORTGAGES

Buying your first home

Buying your first home is one the biggest investments you will ever make. There are dozens of decisions you need to make. Should you use a realtor? How much house can you afford? How do you get a mortgage and what’s the best mortgage for your needs? These can be challenging questions for anyone, especially a first time home buyer!

HomeTrust Bank’s mortgage experts provide you with guidance on the questions above, help you understand what’s involved with getting a mortgage, and help you select the best mortgage for your financial situation.

We also help you get pre-approved before you start house hunting, so you know exactly what you can afford. A preapproved offer lets sellers know you are ready and serious about a purchase.

These tips can make your first-time home buying process smoother and faster.

  • Buying your first home has many advantages, but it’s also a huge responsibility. Be sure to consider all the costs, including maintenance and unexpected expenses.
  • Look at your finances, including your credit report, amount of debt, any late bill payments or financial disputes.
  • Work with a mortgage expert to get pre-qualified and pre-approved so you feel confident making an offer. Our mortgage experts can explain the differences between a pre-qualification and a pre-approval so that you choose the best option for you.
  • Establish a budget. Consider your monthly expenses; how much you can save monthly, how much you can put down, and taxes and insurance costs.
  • Gather the documents you need for a loan application. This includes pay stubs, checking and investment statements, and credit card documents.
  • Decide what type of loan is best for you—there are government guaranteed loans such as FHA, USDA and VA and conventional loans, fixed rate and adjustable rate.
  • Do your research. There are many helpful US government resources online, and our mortgage experts also offer resources and guidance.

Let our mortgage experts help you get pre-approved now!