Apply for a home loan
Buying a new home will be one of the largest investments most of us will make in our lifetime. Mortgage loan rates are at an all-time low, making this an ideal time to buy a home in our community.
Whether you’re a first-time home buyer or ready to upsize or downsize to a new home, CVNB can find the best mortgage for you. Our experienced, dedicated mortgage specialists have a wide range of loan offerings to make home ownership possible and guide work with you every step of the way, from pre-approval to closing.
Meet your lender
Ready to buy a home? First meet with a CVNB mortgage specialist, who will recommend getting pre-approved. This includes looking at your income, assets, current debts and debt-to-income ratio (DTI), your down payment and running a credit check. You may be asked to provide documentation such as proof of income and W2s. They’ll issue you a home loan approval letter, which outlines your loan pre-approval amount and terms. It assures real estate brokers and sellers that you’re a qualified buyer.
Apply for a loan
You can apply for a home loan before you find a property to purchase. When you find a house you love and are ready to make an offer, let your mortgage specialist know and they’ll complete the application process and lock in your interest rate.
Purchase and closing
After you’ve made an offer on a home, CVNB will send you an application package to complete and prepare your loan for closing. Your mortgage specialist will order an appraisal to verify the home’s value, and work with your real estate broker to ensure that the title insurance is completed. Once CVNB receives your completed application package, appraisal and title insurance policy, they’ll coordinate with you and your real estate broker to schedule your closing. Your mortgage specialist will also walk you through the closing documents and final loan information, including any closing costs, before the scheduled closing date.
You can check the process of your loan at any time at the loan status portal.
Check interest rates
It’s easy to compare all the current interest rates on a range of typical loans. Check here for up-to-date rates and APR.
With CVNB Rate Watch, you can sign up to have rates emailed to you. Opt to have rates sent to you regularly or when the rate reaches your target.
Find a Mortgage Specialist
CVNB’s mortgage specialists know their communities and want to help make getting into a dream home a reality. They’re committed to helping make the home-buying process as smooth and seamless as possible with their deep knowledge of the region, expertise and array of loan options for your needs.
Q. How do I apply for a home loan?
A. There are multiple ways to apply. You can complete an application online, make an appointment to apply in person or over the phone with a local mortgage loan specialist.
Q. When is it best to apply for a mortgage?
A. The best time to apply and get pre-qualified is prior to home shopping, this way you know going into the process what payment to expect and what price range to look for after your loan product is determined.
Q. Do I need to talk to a mortgage lender before I apply?
A. You do not have to speak with a lender before applying online, but talking to a mortgage lender to know your price range is important. Once you find a property and secure a sales agreement the formal mortgage process begins.
Q. What credit score is needed to qualify for a mortgage loan with CVNB?
A. The simple answer is that there is no specific number. However, loan approvals through any secondary market loan (Fannie/Freddie) or government loan (VA, FHA, USDA) will require a credit score of typically 640 or above. Mortgage rates and available programs will be based on credit score. It is important when buying a home to keep your credit score as strong as possible.