Choosing a home is exciting! Whether you are buying a starter home, a new home for your family, an investment property, or even a vacation home, we will take charge of your financing process to ensure you qualify and close on time, so you don’t miss out on the home of your dreams in this hot market.
For many people, a home purchase is their largest financial transaction. This can raise a number of questions and/or concerns, particularly for first-time home buyers. At River City Mortgage, we walk you through the process step by step, making sure you understand all aspects of the purchase process. Your comfort level is important to us.
Easy Pre-Approval Process
Once you decide to purchase a new home, you will need a pre-approval letter to show a realtor or sellers that you are a legitimate buyer who can afford the home you are interested in. The first step to pre-qualify for a loan is to contact River City Mortgage or begin your application online at no cost to you. We will need your employment history, income, down payment information, monthly debt payments, and your credit history.
River City Pre-Approval Advantage
- Know much home you can afford
- Know your down payment requirement
- Buy a home within your ideal payment range
- Property-specific pre-approvals available anytime
What info we will need
- Two-year employment history
- Annual income
- Down payment desired
- Credit history and monthly debt payments
Quick Consultation: After River City Mortgage professionals have pre-qualified you for your home purchase, your loan officer will contact you to let you know how much money you qualify for. We will also share various financing options, and let you know what to expect throughout the home buying process. At the end of the consultation, we will provide you with a pre-approval letter so that you are free to make a serious offer on any home of your choice! The process is fast and easy. The sooner you apply, the quicker you will have a letter in hand.
TYPICAL DOWN PAYMENT OPTIONS
- 3.5% minimum down payment FHA loan
- 0% down payment USDA loan
- 0% down payment VA loan
- 3% minimum down payment conventional loan
- 20% or higher to eliminate PMI and qualify at best rate
- 5% or more to qualify with PMI buy-out