Home Purchase
Comprar una Casa
First-Time
Homebuyer
Buying a home is more complex than swiping a credit card — and that’s why the Valamonte Mortgage Team and I are here to guide you every step of the way, whether you’re purchasing or refinancing.
Here are four key terms to know:
Down Payment – Your upfront contribution toward the purchase (some programs offer low or even 0% down).
Fixed-Rate Mortgage – Your interest rate stays the same for predictable monthly payments.
Rate Lock – Secures your interest rate while your loan is processed.
Closing Costs – Typically around 3% of the purchase price, covering fees like appraisal and title.
You don’t have to navigate this alone — we’re here to help you move forward with confidence.
Should You Talk to a Mortgage Pro Before House Hunting?
Yes — and it’s one of the smartest first steps you can take.
Before you start touring homes, getting pre-qualified helps you understand what you can comfortably afford and what your monthly payment might look like. We’ll review your income, debts, employment, and available funds to give you a clear picture — quickly and with minimal paperwork.
Why Pre-Qualification Matters
Once you’re pre-qualified, you’ll receive a letter showing sellers you’re a serious and prepared buyer.
That letter gives you confidence when making an offer — and it shows sellers you’re ready to move forward, not just browsing.
What About Online Calculators?
Online calculators can give you a rough idea, but they don’t look at your full financial picture. A quick conversation with us can uncover better options and loan programs tailored to you.
If you’re thinking about buying, let’s connect first. It’s simple, helpful, and puts you in a strong position from the start.
Pre-Qualify
For a Loan
Applying For a
Mortgage
Before You Apply for a Mortgage
A little preparation makes the process smoother. Start by understanding your budget, reviewing your credit, and exploring your loan options.
Know Your Budget: Determine what you’re comfortable paying monthly and choose a home that fits your lifestyle and long-term goals.
Check Your Credit: Review your credit report early to avoid surprises and understand your borrowing power.
Be Prepared: You’ll typically need recent pay stubs, bank statements, W-2s, and tax returns.
Getting organized early keeps things simple — and we’re here to guide you every step of the way.
How Much Do You Need for a Down Payment?
A down payment is your upfront investment in your home, and the amount depends on your financial situation and comfort level — the good news is, you have options.
Low Down Payment Options:
FHA, VA (for eligible veterans), and some conventional loans allow for low — and sometimes even 0% — down payments.
Larger Down Payment:
Putting more down can lower your loan amount and long-term interest, but it’s important to keep savings for emergencies.
Saving Tips:
Automate savings, reduce expenses, pay down debt, use bonuses wisely, or explore eligible gift funds.
Every situation is different — we’re here to help you find the option that fits your goals.
Down
Payment
Selecting a
Mortgage
Mortgage Options Made Simple
Fixed-Rate: Stable interest rate and predictable payments for the life of the loan (commonly 15 or 30 years).
Adjustable-Rate (ARM): Rate can change over time; payments may go up or down. Hybrid ARMs start fixed, then adjust later.
Conventional & Jumbo: Conventional loans follow standard guidelines; jumbo loans are for higher loan amounts and may require stronger credit.
FHA & VA: FHA offers flexible credit and low down payments; VA (for eligible veterans) may offer 0% down and competitive terms.
PMI: Required on some loans with less than 20% down, but often removable later.
The right loan depends on your goals — we’re here to help you choose the best fit.