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The #1 USDA Originator in the Nation 2014 & 2015 and Top Originator 2016!

​​Getting Started

Overview of Getting Started

Buying a home is an exciting experience, but it can be one of the most challenging if you don’t understand the mortgage process. Many families feel overwhelmed because of the amount of paperwork they must complete. Knowing what to expect, especially if you’re a first-time homebuyer, will help you make solid decisions about your home purchase.

While it is tempting to look for your perfect home right away, there are some steps to follow before you start shopping for a home. Begin by determining how much you can afford, based on your spending plan and comfort level.

Educating yourself is key to making the best decision. Take time to learn about all of the mortgage loan programs available, requirements, rates and terms. It is also advisable to research the area you are interested for insurance and tax rates, as well as flood probability.

Step 1: Accurately Complete the Mortgage Application
Items that will cause loan issues are:

  • Misstated or Omitted: Employers & Employment Dates for the past 2 Years
  • Misstated or Omitted: Addresses & Residency Dates for the past 2 Years


Step 2: HSL follows the CIA…Credit, Income, & Assets that were provided in your loan application, and will contact you to determine the loans you may qualify for.Upon determination a letter of Prequalification or Credit Recommendations will be issued and a closing cost estimate. You will also receive an email containing a list of documentation needed in order to proceed with a Pre-Approval.

Note: Make sure you understand the money needed for down payment and closing cost

Hint: Let Us know if you are working with a realtor, builder, or already under contract.

Step 3: Gather all required documents for PreApproval and submit to HSL.
PreApproval’s are much more powerful than Prequalification Letters. What’s the difference you ask? PreApproval letters are substantiated by factual data (Bank Statement, Paystubs, Tax Returns, W2’s), Approval through our Automated Underwriting System, and are good for 60 Days.

Documentation Needed for Pre-Approval  
All Borrowers:

  • Driver’s License
  • Social Security Card


W-2 Borrowers:

  • Paystub (Within 30 Days)
  • Bank Statement for funds to close (Most Recent)
  • 2014 Tax Return (Page 1 & 2)


Retired Borrowers:

  • Most Recent Awards/Pension Letter
  • Bank Statement for funds to close and income deposit (Most Recent)
  • 2014 Tax Return (Page 1 & 2) (if applicable)


Specialty Loans
VA:

  • DD214 or COE
  • Name & Age of all Household Members


USDA:

  • Name, Age, & Income of all Household Members


Step 4: What are you waiting for? Go find your house

Step 5: Expect a follow up contact by our staff every 48 hours.