Congratulations on your decision to buy a new home!
When you’re buying or building a new house, finding a home loan with rates you can afford and conditions that you can agree to is a big win! The mortgage lenders at Jonah Bank are here to help you get a home loan and achieve your goals, whether it’s your first home or your dream home.
We offer a wide array of home loans, from FHA loans for first time buyers and new construction loans, to conventional mortgages and WCDA loans. If you are eligible, we can also help you start the process for a VA loan or USDA Rural Development Home Loan.
If you're not sure what you can afford, you can view our Mortgage Calculator can help you start planning for your future.
Home Purchase Basics
There are many important things to consider throughout the process, especially if you’re a first-time homebuyer. A home purchase may be your largest financial transaction to date, so it’s important to make the right decisions and to keep an eye on the details. With the assistance of your real estate agent and loan officer, it should be an efficient, pleasant and ultimately rewarding experience.
With a pre-qualification letter from Jonah Bank of Wyoming in hand, your real estate agent will be able to demonstrate that you are a qualified and capable borrower. This will strongly influence the seller, and may make the difference between the seller accepting your offer or someone else’s — even if your offer is lower!
Call or stop by your local branch today to get started with a home loan!
The following information is usually required during the loan process:
- Your Social Security number
- Bank statements for the past two months
- Current pay stubs covering the most recent thirty (30) days or, if self-employed, your tax returns for the past two years
- Copies of W-2s for the last two (2) years
- Documentation of other income
- Investment account statements for the past two months
- Life insurance policy
- Retirement account statements for the past two months
- Copy of divorce decree
- Current status of child support/alimony
- Evidence of homeowner's insurance (required 2 weeks before closing)
- Closing statement from sale of property
- Lease agreements
- Current / prior landlords' names, addresses & phone #s for the past two (2) years
- Copy of purchase agreement and all addendums
- VA - Certificate of Eligibility, DD-214, DD-1747
If you currently own Real Estate:
- Mortgage account information
- Home insurance policy information
- Home equity account information (if applicable)
WHAT TO EXPECT FROM YOUR REAL ESTATE AGENT
- Preview available homes to weed out those that are overpriced, or undesirable in some other way
- Present the homes that suit your needs as you’ve defined them.
- Help you determine the difference between a “good buy” and a property which, because of its nature (neighborhood, market appeal, etc.), might have to be discounted if you decide to sell in the future
- Negotiate the best deal for you
- Help you through inspections
WHAT TO EXPECT FROM YOUR LOAN OFFICER
- Assist you in selecting the best loan to meet your personal situation and goals, with the best rates and fees available. (This single decision can save you thousands of dollars throughout the years!)
- Keep you informed of your loan status throughout the entire process
- Keep your real estate agent informed of our loan progress (Note: Your personal information is always kept confidential between you and us; only deal points and progress are shared.)
- Keep your real estate agent informed of any questions or concerns as they develop
- Keep the process moving by providing documentation and decisions as soon as reasonably possible; by doing so, many of the details are taken care of early in the process so you can comfortably concentrate on any last-minute details or events that require your attention
- Enjoy purchasing your home, but do remain objective throughout in order to make the business decisions that are best for you
- Make sure you are pre-approved as early as possible; this will put the power of financing behind you so you can concentrate on selecting your home