First Time

First Time Home Buyers

Improving Lives Through Homeownership.

The Process

Becoming a first-time homeowner is a major milestone that should be celebrated, but the excitement of buying a house can be quickly overshadowed by stress. What type of lender should you work with? What kind of loan should you get? And how long will the whole process take?

It’s normal for first-time buyers to have a lot of questions, but purchasing your first house doesn’t have to be as complicated as it seems. In fact, if you work with the right lender, everything from filling out your first application to signing your final closing documents can be relatively stress-free.

At Veritas Funding, we go out of our way to ensure our first-time homebuyers are not only initially educated, but continuously informed as well. We make things as simple and straightforward as possible, walk you through every step of the process, and promptly address any concerns or questions you may have. We genuinely care how you feel throughout the entirety of your loan, and we’re more than willing to do whatever we can to improve your homebuying experience.

Understanding the Steps in the Homebuying Process

Step 1: Applying

Once you know you’re interested in buying a house, you can either meet with one of our Loan Officers in person or submit an application through our app. We’ll ask you to answer some simple questions so we can learn more about you, your history, and your home buying needs.

Step 2: Processing

We will collect and verify the information we need to move your loan along in the process. This is usually when an official credit report is ordered, your employment and bank deposits are verified, and a title, appraisal, and inspection are ordered for the house you’re interested in.

Step 3: Underwriting

This is when we closely evaluate all of your documentation needed to complete your loan. We will review the loan program, property, and customer qualifications, double-check for accuracy and eligibility and be on the lookout for any red flags or mistakes.

Step 4: Funding and Closing

All of the final documents will be signed and your loan funds will be transferred. Once this is done, your loan process is officially complete!

Mortgage Payment Calculator

Just because you know how much a home costs doesn’t mean you know how much your mortgage might be – Your loan type, interest rate, down payment, insurance, and taxes all play a role as well. Try using our Mortgage Payment Calculator to estimate your monthly payments the right way.

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Down Payment Calculator

How much money should you really save before purchasing a home? Answer a few simple questions and our Down Payment Calculator will help you understand your options.

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Rent vs. Own Calculator

The choice between renting or buying a home is one of the biggest decisions you can make, but our Rent vs. Own Calculator simplifies things. Compare the cost of renting vs. buying by entering a home’s purchase price, loan term, down payment, and more to see the upfront and recurring costs.

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Purchasing Power Calculator

If you’ve ever wondered just how much a higher down payment or lower interest rate might affect what homes you can afford, our Purchasing Power Calculator is the tool for you. Compare multiple scenarios side by side to see the difference.

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Loan
Programs

With a wide array of loan programs to suit almost every circumstance, our team of professionals can help you choose a customized home financing option that’s right for you. Let us help you make the transition to home ownership.