First Time Homebuyer Resources
We've closed over 120,000 loans. Start your journey with a lender you can trust!
ARE YOU A
FIRST TIME HOME BUYER?
Here are some of the loan programs we offer for first time home buyers.
CHECK OUT OUR VIDEO - THE HOME BUYING PROCESS MADE SIMPLE.
Buying your first home doesn't need to be stressful. Since 1987 we've closed over 120,000 mortgage loans. It's safe to say we've got this mortgage thing down to a science. If you're looking for a fast, frictionless mortgage, start your story with VanDyk Mortgage!
In a recent survey by Ipsos, it was discovered that misconceptions are still common when it comes to two highly important factors in obtaining a mortgage.
20% DOWN PAYMENT MISCONCEPTION
40% of consumers are still under the impression that you must have at least a 20% down payment minimum.
There are many loans that have been written with as little as 3% and sometimes less.
HIGH FICO SCORE MISCONCEPTION
62% of the responders believed they needed excellent credit to buy a home, with 43% assuming that a "Good Credit Score" was anything over a 780 credit score.
When reviewing the actual credit score numbers of approved conventional and FHA mortgages, we learned that this misconception was not true.
Mortgage loan rates are still low!
Get Pre-Approved or call a licensed loan originator now at 1-888-482-6395 to get started.
COMMON MORTGAGE QUESTIONS
We are here to help! Contact us today if you have any questions about the mortgage process. Let us be your trusted mortgage advisor.
WHEN SHOULD I START THE HOME LOAN PROCESS?
We recommend starting the pre-approval process before or at the same time you start your home search. In a seller's market, homes can have multiple offers after being listed for less than a week. Having a solid pre-approval could give you an advantage over other offers.
CAN MY PARENTS HELP WITH MY DOWN PAYMENT?
Yes, you can receive help from family members with your down payment. Proper documentation is required so we advise you to not transfer any money until we have reviewed your specific circumstance.
HOW MUCH CAN I AFFORD?
By providing your loan originator the required documentation, which includes, but is not limited to, income, credit history, and size of down payment, a detailed analysis will be provided that includes your maximum loan amount.
ARE YOU MORTGAGE READY?
THE VANDYK MORTGAGE TEAM WILL GET YOU THERE
BE PRE-APPROVED AHEAD OF MAKING AN OFFER
While many mortgage lenders are still quoting 10-minute pre-qualifications over the phone or online, a true mortgage approval is one that has been issued by an underwriter who has reviewed all the necessary documents.
3 WAYS A PRE-APPROVAL LETTER HELPS YOU
- It lets you know how much mortgage you qualify for.
- It gives you an estimate of what your total payment would be.
- It gives the seller more confidence about your ability to obtain financing and complete the transaction.
PRE-APPROVAL DOCUMENT CHECKLIST
Items needed for a mortgage pre-approval include:
- Most recent 30 days of pay stubs
- Most recent 2 months of checking and savings account statements
- Last 2 years W-2 from all jobs
- Last 2 years Federal tax returns, (signed & dated)
- Driver's license and social security card
- Current mortgage and insurance statements, (if you currently own property)
- Social security award letters
- Current 401K/IRA statements
- Bankruptcy & discharge papers, if applicable
- Foreclosure documents, if applicable
- Child support orders & all schedules, if applicable
- Divorce decree, if applicable