Applying for a Mortgage

June 17th, 2013

Couple talking to realtorAre the lower interest rates making you think you want to shop for the home of your dreams?  It’s true the lower rates are making the option of home ownership more of a possibility for those that weren’t able to buy previously. 

But when it comes to home shopping some things have changed. Did you know that it makes more sense to be pre-approved for a mortgage BEFORE you even talk to a realtor?

That’s right, because many sellers won’t even consider offers from buyers who can’t show they have the financial ability to pay for the home. The First National Bank and Trust of Newtown’s mortgage team will talk with you about the types of loans and what works best for your financial picture. We need to see three years of tax returns, pay stubs and W-2 forms, so bring those with you.

When you’re pre-approved for a mortgage at The First, you have 60 days to decide which house is right for you. Once you have found your dream home and an offer has been accepted, bring your agreement of sale back to the bank to determine if the collateral will qualify.

The buying process itself can be challenging from deciding on location, which house and then the home inspections. We want to make the mortgage “piece of the puzzle” as simple as possible.

If you are looking for a home and have questions, let us know and we can answer here. Or if you already bought your home, share with all of us what you thought was the most challenging part.

You can always talk to us in person. More information on applying for a mortgage is available at any branch of The First National Bank and Trust Company of Newtown, (215) 860-9100, fnbn.com.

Our in-house mortgage specialist is:

Michelle K. Byrne

The First National Bank & Trust Co. of Newtown
Corporate Officer/Residential Mortgage Officer

215-860-9100 ext. 3055
mbyrne@fnbn.com