1-800-628-7070          Routing #: 221473652

Welcome to the

FIRST TIME
HOME-BUYER'S GUIDE

Education, tips, and tools to prepare you
for one of life's biggest decisions.

Your Home-Buying Journey
Starts Here

Unlocking the door to your first home is one of life's great milestones. As you begin your house hunt and research what you need to do, it's very easy to feel overwhelmed with the amount of information that is out there. But it doesn't have to be!

The First Time Homebuyer guide will help you navigate the different stages of your home-buying journey with less stress and more confidence!
LET'S GET STARTED

Lets Get Started

Step 1 of Home-Buying: The Pre-Qualification

What is a pre-qualification and why do I need it?

A pre-qualification is a firm offer to lend based upon supplied documentation and underwriting guidelines. You're likely to find, especially in a competitive market (or a "seller's" market) that a realtor will not take you to look at a home without pre-qualification paperwork.

Please note that a Pre-Qualification will require us to run a credit check for income verification and security purposes.

 

What documents will I need to gather when I am ready to submit a complete mortgage application?

To proceed with your loan application process, you will be required to submit the following documentation.
  • Contract of sale for your new home, signed and dated by all parties.
  • Most recent paystubs for all jobs covering the most recent 30 days. Please be prepared to provide any future paystubs until your loan process is complete.
  • Past two (2) years w2's.
  • Past two (2) years 1040s with all schedules and pages as well as any business tax returns, if applicable.
  • Last two (2) months bank statements, all pages, for all bank and retirement accounts listed on your application.
  • Current mortgage statements, property tax bills, and hazard insurance bills for all properties owned, and any HOA statements, if applicable.
  • Complete disclosure package signed by you.
  • Divorce Decree or Child Support documentation, all pages, if applicable.
  • Your attorney's contact information.
  • Your real estate agents contact information.
  • Method of payment for your appraisal fees.

 

Ready to begin the
pre-qualification process?

Fill out this quick form and a mortgage representative will be be in touch for a free, no strings attached consultation.

START THE PRE-QUALIFICATION


Ready to apply for a loan?

We make it easy to get started on your home loan here at Bethpage.

APPLY FOR A LOAN


Or call us now and we will
start the process for you!
866-832-9275


Step 2 of Home-Buying: Shopping For a Home

Finding a Home Though it sounds relatively simple, a lot of work and consideration goes into finding your first home. You'll need to think about what you need, want and can afford in a home - all of which take time and planning.


Before you start, though, it's important that you develop the right mindset. Since this is your first time buying, it's unlikely that you'll stumble upon a "perfect" home. Sometimes, the idea of perfection in real estate is risky, because it could cause you to overlook a home with great potential. That potential is what finding a home is all about, especially when you're embarking on homeownership for the first time.

You may decide to add to and improve this property in the years you live there, or use the money from selling it to find an even better home later on. Either way, this choice is an investment in your future. Keep your dreams in mind, but don't let them hold you back from discovering a great home.

 




Terri's Tips

Everyone has different "must-haves" or needs for their homes. Here are some important things to consider as you begin your home search.

The Best Time To Buy A Home
How To Build Your Dream Home
What To Look For In A Real Estate Agent
5 Tips To Choose The Right Home

Step 3 of Home-Buying: Securing a Mortgage

Choosing the right mortgage lender is one of the most crucial steps in the home buying journey. While a competitive rate is very important, you should keep in mind that a lender's reputation for service, its communication throughout the process, and assistance in resolving any issues is what makes the difference between smooth sailing and choppy waters.

Delivering the best service is Bethpage's defining characteristic. Processing your loan request quickly is our main priority. Our specialists are here to work with you one-on-one throughout the entire process.

What are the steps in getting a mortgage?

Whether you are first-time home buyer or have purchased a home in the past, here is a quick reference guide on the process of a typical home purchase.
The Steps of Getting a Mortgage
Submit A Loan Application
Submit A Loan Application

When you find a lender that offers you the competitive rates and service you need, you will need to start the process with a detailed mortgage application. Once completed, your lender will be in touch with you to begin the next steps.

Order An Appraisal
Order An Appraisal

Appraisals are ordered on every loan. This helps ensure the home you are purchasing is assessed fairly based on other comparable properties sold in the neighborhood you are interested in.

Underwriting Review
Underwriting Review

Your loan will be reviewed by an underwriter who will evaluate your application and the property to ensure they all meet the requirements for the type of financing you are requesting.

Loan Processing
Loan Processing

Verifications of credit, employment, and assets are completed.

Final Approval
Final Approval

Where all the details of the loan are reviewed as a whole.

Clear to Close
Clear to Close

A notification is sent to you and a closing date is scheduled by your attorney. You will have an opportunity to review the loan and confirm that everything is as expected.

Closing
Closing

All parties sign closing documents with settlement agents and attorneys.

Start a quick mortgage application

Quick Apply For A Bethpage Mortgage Today!

Have you found the right house and are ready to get the loan you need? Fill out a quick form and our representatives will contact you to complete the process.

FILL OUT A QUICK APPLICATION



Find a Mortgage Loan Officer

Speak With Our Mortgage Experts

Fill out a quick form and our team will contact you to answer any questions and walk you through the home-buying journey.

GO TO THE FORM

Step 4 of Home-Buying: Closing on a Home

Going to Closing

After your mortgage has been approved, the final step of buying a home is closing. This is where all parties sign the necessary documents and ownership of the property is finally transferred over to you.

The procedures for closing may vary from state to state, but the following people are usually present during signing:
  • You, the buyer
  • The home seller
  • Real estate agents
  • The mortgage lender
  • Attorneys

 



Closing Costs

There are several fees and payments associated with going to closing that may include, but not limited to:
  • The lender's origination costs
    • Discount Points
    • Document Review Fee
    • Processing Fee
    • Underwriting Fee
  • Closing agent fees
  • Required Services
  • Title related costs
  • Appraisal
  • Transfer Taxes
  • Property taxes
  • Homeowner's insurance premiums
  • Flood Insurance if required

 



What will my closing costs be?
Closing on your home

Speak With Our Mortgage Experts

Our team is here to help you answer any questions and walk you through the home-buying journey.

Fill out this form to receive a call from one of our specialists.

... or you can call us now!



Speak with mortgage specialists directly
and we'll walk you through the process.
866-832-9275