The Home Loan Process
Demystifying Home Loans
If you haven’t experienced it before, the home loan process can feel overwhelming, but our agents will help you stay informed throughout the process, from pre-approval to closing. The first thing to do is consult with a mortgage specialist (or two). If you don’t already have someone in mind, we partner with some of the best lenders in the industry, and we’d be happy to introduce you, so you’ll be taken care of.
finance with
1st Security Bank Home Lending
Charles Cuthbert
NMLS #405720
(253) 286-3560
2910 S Meridian #180, Puyallup, WA 98373
https://fsbwa.mymortgage-online.com/CharlesCuthbert.html
charles.cuthbert@fsbwa.com
Charles joined 1st Security Bank as the new Manager of the Puyallup Home Lending office in 2014 and is dedicated to helping homebuyers find the right loan program to fit their dreams and financial goals.
Charles specializes in new construction lending, working with local and national builders.
"1st Security Bank is a local community bank with a championship home lending team. We have many outstanding loan programs, several unique to our bank, along with the ability to close loans in a short period of time."
Born and raised in the Puyallup area, Charles graduated from Washington State University with a degree in finance and accounting. With over two decades of experience in the mortgage industry, his clients, including local builders and listing agents, have complimented his services in a variety of areas:
The ability to close loans from start to finish in a short period of time
Prompt and thorough with the pre-approval process
A good communicator readily available for contact at any time
The ability to offer lender site coverage at all model homes
Thorough and transparent to avoid any surprises
"My team and I are committed to helping our customers smoothly and successfully navigate the home financing process; our number-one goal is to earn your business by providing a superior level of service."
Let's Get StartedKnow Your Mortgage Payment
Based on the home's sale price, the term of the loan, buyer's down payment percentage, and the loan's interest rate, this calculator can help estimate what you'll need to pay out monthly for your new home. This calculator factors in PMI (Private Mortgage Insurance) for loans with less than a 20% down payment, as well as town property taxes and its effect on the total monthly mortgage payment.
Buying a home is a big step! Whether you're buying your first home, your dream home, or your tenth investment property, yours will be a big investment. We know how important this is to you and we have an army of experts to make sure we find the perfect property for your unique circumstances. Finding the perfect property is just one way we can help you with your real estate purchase.
In order to determine the amount of home you can afford a lender will use your debt-to-income ratio to determine the percentage of your pre-tax income you spend on debt. Your debt ratio will include: monthly housing costs, car payments, credit cards, student loans, and any other installment debt. If you take on more debt before buying a home it will have an impact on the amount of the loan that the lender will finance.
Get Pre-Approval
Before you start looking for a home to buy, it’s a good idea to meet with your Loan Officer to get pre-approved for a loan amount. At this stage, the lender gathers information about income, assets and debts of the borrower (you) to determine how much house you may be able to afford. This includes a credit report, W-2 forms, pay stubs, Federal Tax Returns and recent bank statements. There are a variety of different loan programs, so make sure to get pre-qualification for the specific programs that best suit your needs.
We Help You Get The Best Loan
Start The Process
We’ll help you find the best local loan officer to get you competitive rates and the programs that best fit your individual needs. Fill out this form and we’ll connect you with a lender today!
Application & Processing
What happens when a loan goes "live"
When you find property you’re ready to buy, your lender will help you complete a full mortgage loan application, and talk you through the various fees and down payment options. The application is submitted to processing, where the documents are reviewed and appraisals and title examination are ordered. Then the loan is sent to an underwriter, who reviews and approves the entire loan if it meets compliance.
Closing
Signing and Finalizing the deal
Don’t be surprised if you’re asked for additional documentation or clarification throughout the process. Once your loan is approved, don’t forget to set up homeowners insurance. Your documents will be sent to the title company, where you’ll sign for the new home and pay any remaining costs. Then the loan is recorded and you get the keys. Congratulations, happy homeowner!
