What will a lender look at when I apply for a mortgage?
  • Income and Debt: How much money you make and what other bills you have to pay helps the lender determine if you can afford to make mortgage payments. Debts include anything on your credit report- such as a car or student loan payments- and not utility bills like internet or cell service.
  • Assets: How much money you have in the bank assures the lender that you will be able to cover the down payment, closing costs, and 1-3 months of mortgage payments.
  • Credit: Whether or not you've met past financial obligations helps the lender predict whether you will repay your mortgage.
  • Property: The home you want to buy has to be worth enough to act as collateral for the mortgage.
Loan decisions are often unique, so if you're unsure of if you'll qualify and how much you can afford, call us today for advice custom to you.
What does it mean to get pre-approved?
Getting pre-approved means a mortgage banker has reviewed your income, debts, assets, and credit to determine your affordable loan amount range. This is the first step on your first time home buyer checklist. Unlike a rate and payment quote, a pre-approval is custom to your financial situation, so sellers can see that you're a qualified buyer. The pre-approval process is quick and easy. United Home Loans offers same-day pre-approvals, so you can start home shopping right away. Get started here, and call us if you need help navigating loan options.
What if I've had credit problems?
Your credit history is only one factor in qualifying for a mortgage, so imperfections like late payments don't necessarily disqualify you. In addition, there are a variety of loan programs whose requirements are designed to help people with credit challenges become homeowners. If you know your credit is less-than-perfect, don't let that discourage you from talking to a mortgage banker about qualifying.
What is the minimum down payment I can make on a home?
Mortgage loans are available with as little as 3% down. Many first-time buyers believe they need as much as 20% of a home's purchase price in cash- which may have been true in the past- but is certainly not the norm for first-time buyers anymore.

One factor to consider when determining your down payment is how much the resulting monthly payment will be. For example, a buyer might choose to put 5% down instead of 3% in order to meet the monthly payment that they qualify for. United Home Loans has a number of loan options that can help you buy a home with a down payment and monthly payment that works best for you.
United Home Loans is both a mortgage banker and a mortgage lender. How does this benefit me?
As both a mortgage banker and lender, United Home Loans has the ability to shop dozens of banks and lending institutions to ensure that you receive the best possible interest rate and loan program. Our relationships with both the largest banks and smaller, specialty investors allows us to offer more loans, especially ones you'll have a hard time finding elsewhere. More loans to choose from means finding the best-fit for you! Plus, with in-house processing and underwriting, decisions regarding your loan are handled locally from start to finish. No long wait times between questions, no annoying hold music, and no stress.