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What to Expect When Buying a Home

There are many steps on the path to homeownership, and HVCU looks forward to helping you along the way. Here’s what you can expect after you apply for a mortgage with us. Once you receive your approval letter from HVCU, it’s time to start shopping for the home of your dreams. Since every borrower’s situation is unique, this timeframe may vary. So why wait – Apply Today!

Get Real Time Updates on Your Loan Status

We make it easy to get access and submit important information through our Landing Zone. Simply set up your personalized user name and password when you apply for the mortgage, so you can upload and review documents, lock in your rate, and check the status of outstanding conditions on the Landing Zone Loan Status Page. You will also be able to consent to viewing and receiving documents electronically. Your Mortgage Loan Officer, or a member of our team, is also available to answer any questions you may have and to provide you with updates when available.

Steps to Buying a Home

The following is a general overview of the steps in the home buying process:

1. Application is assigned to an HVCU employee for review. If needed, we may require additional documentation.
2. Appraisal is ordered and received.
3. Commitment letter issued – be sure to review it for all the information we’ll need to give you a final approval. This letter may list additional documentation we need prior to your closing.
4. Final loan review, once all documents are received.
5. Loan approval.
6. Mortgage closing scheduled and closing disclosure sent to you for acknowledgement.
7. Closing.

HVCU Offers:

  • Low mortgage rates
  • Low down payment options
  • Free pre-approvals
  • Fast turnaround
  • Low closing costs
  • No mortgage pre-payment/payoff penalties
  • In-house account servicing
  • Local decision making

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