steps to homeownership

It's easier than you think to become a homeowner. Experience the difference with First Community Mortgage.

Steps to Homeownership

Leave the worry behind and allow our loan originators to show you the personalized experience you deserve. We'll help you with your application and gathering the proper paperwork. We’ll fully explain fees and find the best option for your unique needs. Because of our experience, we’ve seen it all. We’ll be by your side to answer questions, deal with any issues that may arise, and get you to your closing with minimal stress.

  1. Pre-Qualification icon


    To begin the loan process you must first pre-qualify. This informal process determines the maximum amount you are eligible to borrow, but it does not guarantee you a loan.

  2. Start Shopping icon

    Start Shopping

    Once you’ve been pre-qualified, you can begin a more accurate search for the home that fits your budget.

  3. Purchase & Sale Agreement icon

    Purchase & Sale Agreement

    Once you find the right home, you will negotiate the terms of sale, including the sale price, repair requests, move-in-date, and more. Your agent will then present your offer to the sellers, and you’ll continue to negotiate until all parties agree.

  4. Loan Application icon

    Loan Application

    Once the seller accepts your offer, you can officially begin your mortgage application!

  5. Provide Documentation icon

    Provide Documentation

    The documentation we require protects you and ensures that you’re getting the best loan possible. Paperwork of this sort may include pay stubs, tax returns, and bank statements.

  6. Property Inspection icon

    Property Inspection

    Most home purchases require an inspection for things like pest infestation, water damage, and potential safety hazards.

  7. Appraisal icon


    This step ensures that the sale price and the appraised value of the house are in line with each other.

  8. Title Search icon

    Title Search

    At this point, a title company conducts a search for any liens against the property.

  9. Mortgage Insurance icon

    Mortgage Insurance

    We require our borrowers to have mortgage insurance if your down payment is less than 20 percent of your home’s sale price.

  10. Other Insurance icon

    Other Insurance

    Fire and hazard insurance is required on the replacement value of your home. Depending on your home’s location, you may need flood and earthquake insurance too.

  11. Processor Review icon

    Processor Review

    The processor assigned to your loan will package all of your information together and will send it to the underwriter for final review.

  12. Final Approval icon

    Final Approval

    The underwriter reviews the documentation to ensure you still meet the financing requirements, and makes the final decision to approve your loan.

  13. Closing/Signing icon


    You’ll meet with a closing attorney and notary to sign the final documents and provide the necessary funding to complete the transaction.

Here to help

Resources for you

Here to help

We are to help you however you need. Whether you want access to online tools, to talk to a loan originator, or just have questions, we are here for you.