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What You Should Know About the Homebuying Process

Updated: Apr 7

At Security First Financial, we know buying your first home is a big decision and we want you to feel confident.


Learn more about the homebuying process so you’ll know what to expect when you’re ready to buy a place of your own.

Explore Your Options

Security First Financial offers hundreds of loan options. When you’re ready to buy a home, meet with a Loan Originator to get personalized advice about the many options available.


Common options include FHA loans, VA loans, USDA loans, and Conventional loans. In many cases, you can get a loan with 100% financing* or a low down payment. Your Loan Originator will talk to you about your goals and financial situation to help you find the loan that’s right for your specific needs.

Get Prequalified

Before you start shopping for a home, meet with your Loan Originator to get prequalified. The lender will look at your credit score, income, assets, debts, and more to get an idea of how much you can afford to borrow.


Getting prequalified for a loan is faster and less official than getting pre-approved. You’ll get a rough estimate of how much you’ll be able to borrow; use this information to set a budget when house shopping. A prequalification letter can also help you make a stronger offer when you pick a home you like.


3 Great Reasons to get Prequalified when Buying a Home

Shop for a Home

Once you’re prequalified, it’s time to start looking for homes in your budget. In many cases, a real estate agent can help you navigate the market; if you need help finding an agent, ask your Loan Originator for a suggestion.


Set your priorities ahead of time to make it easier to choose a home. Then share those priorities with your real estate agent.


Once you’ve picked a home, your agent can help you prepare a competitive offer. Be sure to schedule a home inspection to make sure everything is in good shape.

Complete the Loan Process

Your loan originator can walk you through the loan process step by step. They will arrange for an appraisal to get an independent estimate of the home’s value. You will also likely be asked to provide documentation. Keep the process moving smoothly by getting requested documents to your Loan Originator quickly.

Documents you may need to provide include:

  • Signed purchase contract

  • Pay stubs for the last 30 days

  • W-2s for the past two years

  • Tax returns for the past two years

  • Bank statements for the past two months

  • Homeowners insurance policy

  • Most recent quarterly 401(k) or other asset statements (if applicable)

  • Veterans: DD214, LES, or NGB22 forms (if applicable)

  • Name of preferred title company

5 Easy Steps of the Home Loan Process

Close on Your Home

When the loan is ready to close, you’ll review and sign documents. Your Loan Originator can answer any questions you have about the paperwork. When the loan is funded and closed, you’ll get the keys to your new home!


Contact your local SFF Loan Originators to learn more about the homebuying process.

Original blog post by Primary Residential Mortgage Inc.

https://www.primeres.com/about/blog/article/2021/04/05/what-you-should-know-about-the-homebuying-process-

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Security First Financial is a division of Primary Residential Mortgage, Inc. PRMI NMLS 3094. Branch NMLS ID# 385589. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. Programs, rates, terms, and conditions are subject to change and are subject to borrower(s) qualification. This is not a commitment to lend. Colorado – Regulated by the Division of Real Estate, UCCC #987701-016. Arizona – Arizona Department of Financial Institutions 0902614. Massachusetts – Licensed by the Massachusetts Division of Banks as a Broker and Lender as #MC3094. Florida - Florida Office of Financial Regulation MLD646. Texas - This office is licensed and examined by the Office of Consumer Credit Commissioner of the State of Texas. 

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Primary Residential Mortgage, Inc. is licensed under the State of Texas and by state law is subject to regulatory oversight by the Texas Department of Banking through one of the means indicated below: In Person or U.S mail: 2601 North Lamar Boulevard, Suite 300, Austin, Texas 78705-4294, Telephone No. (877) 276-5554, Fax No: (512)475-1313 Email: consumer.complaints@dob.texas.gov Website: www.dob.texas.gov

Consumers wishing to file a complaint against a mortgage banker or licensed mortgage banker residential loan originator should complete and send a complaint form to the TX department of savings and mortgage lending, 2601 North Lamar Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery find must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.

 

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