Shaking hands with a mortgage lender

First-Time Homebuyer Loans

Why get pre-qualified for a mortgage?

As a first-time homebuyer, the process of looking at homes, making an offer, and applying for a mortgage can be daunting. How do you know how much you can afford to spend on a home? Which type of mortgage loan is best for you? Getting pre-qualified can help you answer these questions and shop for a home with confidence. Also, many real estate agents require a pre-qualification letter before taking you to look at houses. It also signals the seriousness of your intentions to sellers.

Apply for a first-time homebuyer loan today!

What is private mortgage insurance?

When you put less than 20% down to buy your first home, you’ll have a private mortgage insurance (PMI) premium payment added to your monthly mortgage payment. PMI makes it possible for lenders to permit lower down payments, while still offering some protection from default. Once you achieve 20% equity in your home, the PMI requirement is usually waived.

Apply For Your First Home Loan From SENB Bank

As a community mortgage lender, we’ve built our reputation on responsible lending practices in Moline, Davenport, Bettendorf, Buffalo, Roscoe, and Beloit. When you apply for a first-time homebuyer loan with SENB, our experienced team of mortgage lenders offer a hands-on approach to personally guide you through the mortgage application process. SENB team members have been providing a “Smart. Easy. Notably Better.” mortgage experience for first-time buyers since 1961. When you choose SENB as your mortgage lender, you can expect:

  • Competitive rates
  • Local decision making
  • Quick, easy application process

Need guidance to find the perfect home loan?

Starting your homebuying journey can be a daunting process. Let our team of mortgage lending experts help you take the first step! Start a conversation with a mortgage lender in your area today to discuss your home loan options, answer any questions you might have about the lending process, and to see if you qualify for any loan programs. We have over 100 years’ worth of cumulative experience helping residents of the Quad Cities and Stateline Wisconsin finance their homes. We make it easy to get started – find a local mortgage lender today!

Need additional guidance? Fill out the following form and a member of our team will contact you to assist with your request. Thank you!

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