Armed Forces Bank 320 Kansas Avenue Fort Leavenworth , KS 66027
320 Kansas Avenue Fort Leavenworth , KS 66027What can we help you find?
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Buying a Home
For more information or to speak with a Financial Education Specialist, please contact us at FinancialEducationAFB@afbank.com.
Buying a new home can be overwhelming. Especially for first-time home buyers, knowing where to start can be tough. Should you find the house you want first? When should a loan advisor or real estate agent get involved? What about getting preapproval?
At Armed Forces Bank, we’ve helped thousands of clients through the home-buying process, from first-time home buyers to veterans and those buying an investment home. We can help you do the same in five easy steps:
1. Complete our online application.
First, you’ll need to complete our online application, so we can learn some basic information and get you in touch with the right loan advisor.
It will ask you questions about the home and your finances, typically taking 20 minutes or less to complete.
After you’ve completed the application, one of our loan advisors will contact you to introduce themselves and answer any questions you may have. Your loan advisor will be a mortgage expert and will provide help and guidance along the way.
If you’re purchasing a new home, your friendly loan advisor will also contact the selling agent so the selling party knows who to contact with questions.
2. Get pre-approved for a home loan.
Preparation is the key to successful home buying. And one of the best ways to make the most of finding the right home is to get pre-approved. Pre-approval is free and only takes a few minutes. Your loan advisor will help you get started.
When you get pre-approved you will:
- Know how much you can afford.
- Have an estimate of your monthly payment.
- Know which loan options are best for you.
- Receive a personalized pre-approval letter—so that realtors and sellers know you’re a serious buyer. You’ll have an advantage over competing buyers who are not pre-approved.
The pre-approval process does not commit you to a purchase. You can take your time and when you’re ready to purchase, your loan advisor will update your information and guide you through final steps of the loan process.
3. Find your home.
Now that you’re pre-approved, you can shop for your new home. Plus, having your preapproval letter will give you more negotiating power. When you present your letter to a seller, they will know you are committed to making an offer, and you’re approved for a loan.
4. Complete our application.
Complete our simple online application, and we’ll walk you through every step of the process. With submission, you’ll move your mortgage into the underwriting process, where we may need additional documentation. We will keep it simple, but if you can respond quickly, we’ll keep your loan moving forward.
We’ll order the appraisal from a licensed appraiser who is familiar with home values in your area. Depending on your finances and the loan amount requested, different types of appraisals are used. Sometimes the appraiser will need to view the home; sometimes, they can evaluate from the street.
Title insurance will also be necessary. If you’re purchasing a home, we’ll work with the real estate broker or seller to ensure the title work is ordered as soon as possible. If you are refinancing, we’ll order the title work for you. We’ll use the title insurance policy to confirm the legal status of your property and to prepare the closing documents.
5. Close the loan
After we receive your complete application, the appraisal, and the title work, we’ll contact you to schedule your loan closing. If you are purchasing a home, we’ll also schedule the closing with the real estate broker and the seller.
The closing will occur at your home or at the office of a title company or an attorney in your area who will act as our agent. Your mortgage loan advisor will contact you a few days before closing to walk through all the final information.
Our mortgage loan advisors are experts in VA, FHA, Conventional, and Jumbo loans. Plus, we offer special programs for first responders, military personnel, and educators. Apply now, and you will be on your way to finding a home loan to suit your needs. Your loan advisor will help you navigate the entire loan process from start to finish with care and efficiency.