First-Time Homebuyers

Buying your first home can be a dream come true, but it can be a challenging journey for the unprepared buyer. When it's time to make your move, our mortgage professionals are here to help you every step of the way.

As a first-time homebuyer, you may not be aware of the many programs designed to help save you money including programs like:

• Low down payment programs
• Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA) and U.S. Department of Agriculture (USDA) government loans
• State and Local housing finance agency programs
• Closing cost and down payment assistance loans and grants
• Homebuyer Advantage Plus® Mortgage, our exclusive program
• HomeReady® Mortgage Plus

The benefits of owning your own home.

Buying a home is one of the most significant purchases you'll ever make. Home ownership offers you a range of benefits:

• Build equity. Over time, you can build equity aka value that you can use to pay for things like home improvements, debt consolidation and education expenses
• Tax advantages. You may save money by deducting mortgage interest and property taxes¹
• Create value. Your home may appreciate in value over time
• Freedom. It's your home and you can do what you like with it to reflect your lifestyle

Determining how much home you can afford. 

Everyone has an idea of a comfortable housing payment they can afford. This, combined with a review of your personal financial situation, will provide guidance to the home buying process. Having the option of choosing from so many mortgage products means that you have a great opportunity to buy the home you want, with monthly payments you can afford.

The Mortgage Application Process

step 1 - get pre-qualified

• Your fulton mortgage company loan officer will help determine how much you can afford and what mortgage programs work best for you

step 2 - search for your dream home

• Along with your realtor get out there to find your new home
• Continue to maintain good credit and check with your loan officer about any financial decisions that may affect your pre-qualification
• Work with your loan officer to customize a home financing plan for the home you want

step 3 - make an offer with your realtor

• Work with your realtor to get an accepted offer

step 4 - make a full loan application

• Once a contract is accepted, reach out to your loan officer to set up home financing
• Provide all required documents in a timely fashion
• Your loan officer will order an appraisal
• Select a closing agent to handle your title services and closing

step 5 - application approval

• Our processors and underwriters will work to formally approve your loan
• Provide any additional items that may be requested
• Shop around and obtain homeowners insurance for your new home

step 6 - settle on your new home

• Meet at the settlement table to sign on the dotted line and walk away with the keys to your new home!