Home buyer resources



What does the home buying process look like?

Our home buyer resources are here to help you feel confident when you’re ready to buy



home buyer resource: getting pre-approved is the first step in the home buying process

Get pre-approved

If you want to know how much home you can afford then this is your first step. It gives us an idea of your finanicals and it shows you’re a serious homebuyer to sellers and Realtors.


home buyer resource: your mortgage consultant keeps you updated every step of the way

Submit your offer

After your offer has been accepted on your dream home your mortgage consultant makes sure your home loan is on the path to success at every turn. They’re with you every step of the way.


GVC Mortgage has been welcoming borrowers homes since 1996

Get the keys to your home

Your mortgage consultant will help schedule your closing. After signing the required paperwork you’ll receive the keys to your new home.




Which home loan is right for me?

When it comes to your loan there’s no one-size-fits-all approach. Every loan program can be great for different reasons. Your mortgage consultant will be able to help show you the loan program that makes sense for your situation.



  • FHA

    Great for first time homebuyers. FHA loans don’t require a large down payment. Typically they allow for easier credit qualification and the mortgage can include rehab and remodels.


    Learn more about a FHA loan
  • USDA

    Live in a rural area? With benefits like up to 100% financing, flexible underwriting guidelines, and easy credit qualifications, this could be the loan for you. Household income and location limitations apply.


    Learn more about a USDA loan
  • Conventional

    With a 20% down payment you can eliminate mortgage insurance premiums, but as little as 5% and in some cases even less can get you in your home. This is a great option for those with moderate to high incomes.


    Learn more about a conventional loan
  • VA

    Designed for American Military Veterans, VA loans cover up to 100% of financing needs and offer no monthly Private Mortgage Insurance, making it a great option for those who served.


    Learn more about a VA loan
  • Other

    We have other loan programs available.


    See our other programs

our home buyer resources are designed to give you more confidence



Frequently asked questions


How much do I need for a down payment?


 

You’ve probably heard the myth that you need 20% for your down payment at some point in your life. The truth is, though, there are loan programs that let you finance 100% of the sales price of a new home. However, if you don’t make a down payment at all, you’ll need to pay for Private Mortgage Insurance (PMI). Other loan programs only require 3% or 5% for your down payment, if you meet certain criteria.

It’s important to keep in mind that the money you put towards your down payment will reduce your monthly mortgage payments.

Get Answer
How much of a house can I afford?


 

This is a tricky question to answer without a clear picture of your current financial situation. When you apply for a mortgage loan, a lender will evaluate your income and long-term debts to determine a “safe” amount for your mortgage payments. What that means is, we’ll look at your verified income against your current debts and other monthly payments to help you determine how much you can afford fora monthly mortgage payment. There are variable factors like interest rates and down payments that also factor into this.

Get Answer
What loan program is right for me?


 

At GVC Mortgage, we offer multiple loan programs because there isn’t a one-size-fits-all loan option for a homebuyer. That means, we need a little more information before we can recommend a loan program for you. Each type of loan has benefits and limitations, so after getting a snapshot of your goals and financial situations, we’re able to make a recommendation and move forward with your application.

Some of the things we’ll need to know include your income, debts, credit score, location of the home you’re looking at, and how much you have for a down payment.

Get Answer
How long will it take to close on my house?


 

Several factors play into this one. Some of it depends on how quickly your offer is accepted to purchase a home, how quickly you respond to your mortgage consultant, and the time it takes to track down all the required documents needed.

Having said that, though, our goal at GVC is to always close as fast as possible. Because we want to help you move into your dream home, we can close in as little as 14 days.

Get Answer
I’ve already found a house, what’s my next step?


 

If you’ve already found your dream home and want to make an offer, you need to contact a mortgage consultant right away. Typically, we recommend a homebuyer pre-qualify or get pre-approved for a loan before shopping for a new home, but we understand that it doesn’t always work out this way. If you’ve found the home of your dreams, your mortgage consultant will walk you through the application steps and help you down the right path.

Get Answer
I want to buy a home, what should I do first?


 

If you are just now thinking about buying a home, then we highly recommend you apply to become pre-qualified. When you’re pre-qualified, you not only know approximately how much home you can afford, but when you go to shop for a home, you show Realtors and sellers that you’re serious. Some realtors will only work with a homebuyer when they’ve become pre-qualified with a lender.

Get Answer


The Homefront

The Homefront is a place for home buyer resources and and homeowners to find the inspiration they need to make their next move.




Additional home buyer resources


Mortgage glossary

Mortgage industry terminology can be confusing so we do our best to explain everything throughout the process. This glossary will help you better understand terms and phrases.


Read the Glossary


Mortgage acronyms

Acronyms can be found in your mortgage paperwork and your mortgage consultant might use them. To help you better understand check out our list of acronyms.


See the Acronyms




Ready to become a homeowner?


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