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    Mortgage: An Overview

    Buying your first home is an important milestone in your life. At United, we take a personal approach to home financing—we’ll walk you through the entire process, and we’ll spend time working to understand your finances and long-term goals to match you with the loan product and term that makes the most sense for you. If you have questions at any point, call 1-800-914-8224 to connect with a local lender.
     
    Ready to get started? Let’s begin with the basics.

     


    What's a mortgage?
    A mortgage is a type of loan that lets you borrow money from a lender to purchase or refinance a home. In exchange, you pay interest on what you borrow, and if you can’t repay the loan, the lender has the right to take the property.

    Try our Home Affordability Calculators

    Calculators are for informational purposes only and are not considered a rate quote or commitment to lend.
    couple meeting with Mortgage Lender

    Why United for First-time Homebuyers?

    A house will likely be the largest purchase of your life, and it will be where you’ll spend most of your time. We don’t take that lightly. When you have questions, our team is here to answer your call and walk you through every step of the process. We also have several products designed just for first-time homebuyers—including five 100% financing (no down payment) options and down payment assistance options.2
    When you choose United for your first mortgage, you’ll benefit from:

    • Digital application 
    • Online mortgage payments
    • Large selection of mortgage products
    • United Signature Checking Account3
    • Employees committed to customer service
    •  .25% discount when you use auto-pay on certain loan products
    • Competitive rates and closing costs
    • Communication to keep you updated about your loan’s progress

    Ready to get started?

    Preparing to Apply for your Mortgage

    couple figuring out their finances

    Prepare Your Finances

    To get the mortgage application started, you’ll need several documents prepared: two years of W2s, paystubs covering at least 30 days, two months of bank statements for all your accounts, and your government-issued I.D. Depending on your specific product, there will also be a minimum required credit score.

    A member of our team will let you know how much you could qualify for and what your monthly payment would be with varying loan amounts. That way, you can make sure you’re comfortable with your potential house payment before you make an offer on a home.

    family unpacking into their first home

    United's Mortgage Interest Rates

    So many factors go into your mortgage interest rate (credit score, employment, loan term, debt, etc.), and we want to make sure your rate matches your unique financial situation. That’s why we’ll spend time getting to know you and your long- and short-term goals before we create a customized rate quote for you.
     
    We believe the first step toward superior customer service is setting realistic expectations. And that starts by quoting you a rate we know we can stand behind.5
     
    Ready for your rate quote? Our team of expert mortgage lenders is ready to connect with you.
     

    The Mortgage Application Process

    Ready to apply for your first mortgage? It's easy to apply for a mortgage with United Community Bank. Once you have your finances ready, you'll need these items handy to get started!

    Form W-2

    You'll need to provide the past 2 years of W-2 forms.

    Paystubs

    You must provide paystubs from the past 30 days.

    Government-Issued ID

    Driver's License, State Issued ID, Military ID, or Passport

    Bank Statements

    You'll need to provide bank statements from the past 2 months.

    Apply for a Mortgage Now

    Begin your secure application.

    Apply Now


    Not quite ready to apply? Find a mortgage lender to connect with, visit a local branch, or give us a call at 1-800-914-8224.

    Finances Prepared: What's Next?

    steps to buying a home

    Start your Home Search

    We recommend starting the process by selecting your lender and understanding your home budget—the home search will be much simpler when you know exactly how much home you can afford.

    Then you can choose your real estate agent and start searching for your dream home. Once you go under contract, you’ll submit a full mortgage application using all of the financial documentation you gathered (the property address is needed to complete the application). Once that happens, you’ll receive your loan disclosure documents – they outline the loan details and estimated costs.

    If your loan application is approved, it heads to underwriting where it receives conditional approval. Basically, that means you’ve met most of the requirements to get your mortgage, but there are still documents our team needs before we can finalize the deal. Keep in mind that those forms aren't the final version and will likely be slightly adjusted once your closing attorney looks at them.
     
    It typically takes 30-45 days to go from under contract to closed, with several required inspections in between. Partner with your lender and real estate agent to choose your closing date.

    Welcome Home!

    At Closing
    • Be prepared to sign lots of paperwork
    • Bring your ID
    • Your settlement agent (closing attorney) will let you know how to pay closing costs and the amount you need to bring to closing (if applicable)
    After Closing

    The home is officially yours—and it’s time to start making payments. If you prefer to make your first payment by check, you’ll find instructions to do that in your closing package. You’ll also receive an email two weeks prior to your first payment with instructions on how to pay online if you don’t have autopay set up already.


    Congratulations!

    Congrats! Buying your first home is a huge accomplishment and one that deserves celebrating. Now that you’re a homeowner, your house payment is probably one of the highest bills you will pay each month. So imagine what life would be like if you could eliminate that monthly expense... Learn 4 strategies to pay off your mortgage faster. 

    Need a little extra help? Connect with your local lender today!

    Call 1-800-914-8224 to get started or fill out the form below.

    Connect with a local lender.

    Fill out the form below or call 1-800-914-8224 to get in contact with the Mortgage Services team. 
     

    Frequently Asked Questions

    Mortgage lenders like United take several factors into consideration, including your credit score, debt-to-income ratio, employment history, and assets. You can get a free copy of your credit report every 12 months from each of the three nationwide credit bureaus—Equifax, Experian, and TransUnion—by visiting www.annualcreditreport.com.
    It will depend on a number of factors, including the interest rate, how much you have for a down payment, your current income, and your current debt. Use this home affordability calculator to quickly crunch the numbers and get a better idea.
    It's a letter from a mortgage lender like United that provides an estimate of the amount you pre-qualify for based on financial information you have provided so far. You can use the letter to show real estate agents and home sellers that you’re a serious homebuyer. It’s not a guarantee that your loan will be approved, but it indicates you’re well on your way.
    Do your best to pay your bills on time and keep your credit card balances as low as you can. As you pay off credit cards, keep them open to show your good payment track record. If you’re in trouble with credit card debt, consider talking to a credit counselor.

    Get seven more tips for improving your credit score.
    Amortization, escrow, FICO score. Learning about the mortgage process can feel like learning a whole new language. We’ve put together this mortgage glossary to help with the translation. Bookmark it for quick reference and ask your mortgage lender as many questions as it takes to make homebuying decisions with confidence.

    Didn't find what you are looking for? View All FAQs or Contact Us

    Find Your Local Lender

    TJ Love

    Mortgage Originator

    Ali Fletcher

    AVP, Mortgage Loan Originator

    Betsy Kelly

    Mortgage Originator

    Carolyn Swanner

    VP, Mortgage Originator

    Cindy Stone

    VP, Mortgage Originator

    Courtney Johnston

    VP, Mortgage Loan Originator

    David Jolly

    Mortgage Originator

    David Turner

    VP, Mortgage Originator

    Donna Robertson

    AVP, Mortgage Loan Originator

    Doug Schoonmaker

    VP, Mortgage Originator/Area Sales Manager

    Gwenn Lanning

    VP, Mortgage Originator

    Jason Blodgett

    VP, Mortgage Originator

    Jennifer Badger

    Mortgage Originator

    Jenny Keenan

    VP, Mortgage Originator/Regional Sales Manager

    Scott Sharp

    AVP, Mortgage Loan Originator

    Kara Nungesser

    AVP, Mortgage Loan Originator

    Tulea Price

    Mortgage Originator

    Lisa Mericle

    VP, Mortgage Originator

    Tabitha Helms

    VP, Mortgage Originator

    Susan Visi

    Mortgage Loan Originator

    Lisa Pittman

    VP, Mortgage Originator

    Susan Barkley

    VP, Mortgage Originator

    Scott Nation

    VP, Mortgage Originator/Regional Sales Manager

    Ryan Hulton

    VP, Mortgage Originator/Regional Sales Manager

    Roseanne Smith

    VP, Mortgage Originator

    Kitty Mauzy

    AVP, Mortgage Loan Originator

    Renee Burgess

    VP, Mortgage Originator

    Paula Buckles

    Mortgage Loan Originator

    Paul Secondi

    AVP, Mortgage Loan Originator

    Mikell Richards

    VP, Mortgage Originator/Regional Sales Manager

    Jim Hanrahan

    Mortgage Originator

    Ryan Smith

    VP, Mortgage Originator

    Blake McPherson

    Mortgage Loan Originator

    Matt Burns

    Mortgage Originator

    Bob Alman

    Mortgage Loan Originator

    Kim Witte

    VP, Mortgage Loan Originator

    Angie Abston

    VP, Mortgage Originator

    Dan Hegeman

    Mortgage Originator

    Patti Peterson

    VP, Mortgage Loan Originator

    Bart Poynor

    Mortgage Originator

    Kathy McClure

    Mortgage Loan Originator

    Beth Cunningham

    Mortgage Loan Originator

    Jennine Hunter

    AVP, Mortgage Loan Originator

    Bailey Boshers

    Mortgage Loan Originator

    Anna Robison

    Mortgage Loan Originator

    Marie Spafford

    Mortgage Loan Originator

    Jamie Pimentel

    Mortgage Services - Area Sales Manager

    Eric Dunlap

    Mortgage Loan Originator

    Kevin Bennett

    Mortgage Loan Originator

    Kelvin Goodwin

    Mortgage Loan Originator

    Ginny B. Terry

    Mortgage Loan Originator

    Woody Woodfin

    SVP, Regional Sales Manager

    Steve Ledford

    Mortgage Loan Originator

    Jeff Burgess

    Mortgage Loan Originator

    Erica Smith

    Mortgage Loan Originator

    Matt Meissner

    Mortgage Area Sales Manager

    Joy Hutsell-Banks

    VP, Mortgage Originator

    Bobby Matthews, Jr.

    VP, Regional Sales Manager

    Nick Morrone

    Mortgage Loan Originator

    Russell Carmichael

    Mortgage Loan Originator

    Bryan Segers

    Mortgage Loan Originator

    Craig Bland

    Mortgage Loan Originator

    Vanessa McKenzie

    Mortgage Loan Originator

    Brianna Grizzle

    Mortgage Loan Originator

    Cathy Edwards

    Mortgage Loan Originator

    Fiorella Rastelli

    Mortgage Loan Originator

    Helpful Resources

    Couple who bought their first home Make Buying a Home More Affordable
    When interest rates rise, your home-buying budget goes down. That’s because more of your monthly payment is going toward paying interest instead of paying down the money you borrowed. But there are ways to make homeownership more affordable so that you can buy the home of your dreams.
     
    Read Article
    new home construction FAQs about United Community Mortgage’s Construction-to-Permanent and Construction-Only Loan Products
    Financing a new home build might be something you’ve never done before. At United, we’re committed to making sure you know what to expect every step of the way. That’s why we put together this guide to help you navigate the process.
    Read Article
    woman moving and petting dog You can buy a home without putting 20% down

    You don’t need 20% down to buy a home. You read that right—the down payment requirement is one of the most common misconceptions when it comes to getting a mortgage, and you don’t actually need to wait until you’ve saved up a 20% down payment to buy a home.

    Read Article
    1. Not all borrowers will qualify. This is not a commitment to lend. Benefits listed may not apply to every borrower.
      2Private mortgage insurance may be required for financing above 80% loan to value. 
      3Avoid monthly service charge on United Signature Checking account by maintaining $15,000 minimum daily balance. You may also avoid the monthly service charge if you maintain $25,000 in combined consumer deposit balance(s) or maintain $50,000 in combined outstanding principal balances in consumer loan accounts owned and serviced by United Community Bank. Additionally, the monthly service charge may be avoided if the primary account holder for this account also maintains assets under management with United Community Advisory Services, or maintains a mortgage loan serviced by United Community Mortgage Services or our mortgage servicing provider on behalf of United. (Note: United Signature Checking, advisory services and third party serviced loans must all be reporting under the same tax identification number in order to qualify for service charge waiver.)
      4Adjustable Rate Mortgage (ARM) loans are variable rate loans; interest rates and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease every six months according to the market index. Any change may significantly impact your monthly payment.5Adjustable Rate Mortgage (ARM) loans are variable rate loans; interest rates and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease every six months according to the market index. Any change may significantly impact your monthly payment.
      5Rates offered are good only at the time offered. Mortgage interest rate is not guaranteed until rate is locked and then is guaranteed only for set lock period. Property address is required to lock rate.
      © 2023 United Community Bank | NMLS# 421841 | ucbi.com/mortgage | United Community Mortgage Services is the mortgage lending division of United Community Bank. We are an approved seller/servicer for the Federal National Mortgage Association (Fannie Mae) and the Federal Home Mortgage Corporation (Freddie Mac). Normal credit criteria apply.  This is not a commitment to lend.  Offer subject to change without notice.

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