We know that buying a home can be overwhelming. Mortgages, especially, can feel like a huge undertaking. To help, we have compiled a list of our most frequently asked questions to clarify and empower you with the answers you need! For more specific information on different types of mortgages, visit our First-time Home Buyer loan and Jumbo loans pages.
Getting pre-approved has several benefits:
- Know exactly how much home you can afford.
- Save time when you find the home you want to buy.
- Strength in negotiations with sellers since a pre-approval demonstrates your purchasing ability.
Our mortgage originators are available to walk you through the pre-approval process!
When you have an accepted offer on the home you are going to purchase and pay the $599 application deposit, the rate can be locked at that time as we continue the process and order the appraisal.
You should bring the following items to your pre-approval appointment:
- Copies of your most recent paystubs covering one month.
- If self-employed, the last two years of personal and business tax returns (all pages and schedules).
- Most recent, non-Kohler Credit Union monthly statements for all accounts (all pages) for the previous two months.
- Most recent statements for any other depository accounts such as stocks, bonds, CDs, IRAs, 401k’s, etc. (all pages).
Click here to contact a mortgage originator and set up a pre-approval appointment.
Click here for our current mortgage rates. Not every borrower will qualify for the posted rates as rates are based on credit history, property type, loan amount, and other factors. These rates can change daily and the current rate at time of lock would apply.
This depends on what you are hoping to accomplish (lower monthly payment, better rate/term, cash-out, etc.). Please go to our Loan Comparison Calculator. Our current rates are located here.
Closing costs vary based on several factors and can range from $1,750-$2,750. There are times when mortgage promotions have discounted closing costs. In order for us to determine your specific closing costs, submit an online application and one of our experienced Mortgage Loan Originators can assist you further.
Pre-approvals are good for up to 120 days. In the event you do not find a home in that amount of time, we can extend the pre-approval by receiving some updated information.
The start to finish process time for refinancing your home can vary greatly, dependent upon a few factors. However, the typical turnaround time for refinancing your home would be 3-6 weeks.
The fastest way to get the pre-approval to start shopping for your new home is to apply online.
First-time Home Buyer
We now offer fixed and adjustable mortgage options for those looking to purchase their first home.
Jumbo Loans
We offer a variety of jumbo loan options to fit your individual mortgage needs.
