First-Time Home Buyers!
First-Time Home Buyers!
Looking to buy a home and want to see what you can be approved for?
Top Mortgage Lender For First Time Homebuyers
Waterman Bank
Top Rated Home Mortgage Lender
Conventional Mortgage Loans
First Time Homebuyer Loans
First-time Homebuyer Programs
Mortgage Pre Approval
Mortgage Refinancing
Discover If You Qualify for a Mortgage
Instant Check - No Credit Score Impact!
Check in minutes if you meet the conventional loan requirements
No obligation and no impact on your credit score
Get personalized results tailored to your income, credit, and goals
Top Mortgage Lender For First Time Homebuyers
Waterman Bank
Top Rated Home Mortgage Lender
Conventional Mortgage Loans
First Time Homebuyer Loans
First-time Homebuyer Programs
Mortgage Pre Approval
Mortgage Refinancing
Discover If You Qualify for a Mortgage
Instant Check - No Credit Score Impact!
Check in minutes if you meet the conventional loan requirements
No obligation and no impact on your credit score
Get personalized results tailored to your income, credit, and goals
What Our Clients Are Saying
Frequently Asked Questions...
Is this pre-approval 100% free?
Yes. It's 100% free. Checking your eligibility and exploring your loan options is completely free with no obligation to move forward. Our goal is simply to help you understand how much you may qualify for and what your next steps could be.
Who qualifies as a first-time home buyer?
You may qualify as a first-time home buyer even if you’ve owned a home before. In many programs, you’re considered a first-time buyer if you haven’t owned a primary residence in the last 3 years. This can open the door to lower down payments and special loan programs.
Do I need a 20% down payment to buy a home?
No. Many first-time buyers qualify with as little as 3% down depending on the loan program and their credit profile. There are also programs designed specifically for first-time buyers that offer low down payment options and competitive interest rates. We’ll walk you through every option available so you can choose what works best for your budget.
What credit score do I need to qualify?
Many conventional first-time buyer programs start around a 580 credit score, though higher scores can help you qualify for better rates and terms. If your score isn’t quite there yet, we can often recommend simple steps that may help improve your eligibility before applying.
How do I know how much house I can afford?
The easiest way is to get pre-approved. During pre-approval, we review your income, credit, and financial profile to determine how much you may qualify to borrow. This gives you a clear price range so you can shop confidently and make stronger offers when you find the right home.
How long does the pre-approval process take?
In many cases, pre-approvals can be completed within the same day once the required information is submitted. After reviewing your information, we’ll let you know what loan options you qualify for and your estimated budget so you can start house hunting with confidence.
Will this impact my credit score?
In many cases, the initial eligibility review does not require a hard credit inquiry. If you decide to move forward with a full pre-approval, a credit check may be required, which may cause a small temporary impact on your score. However, getting pre-approved is an important step that helps you understand your buying power and shows sellers you’re a serious buyer.
Can I get approved if I have student loans or other debt?
Yes, many buyers qualify even with student loans, car payments, or credit card balances. Lenders typically look at your debt-to-income ratio (DTI), which compares your monthly debt payments to your income. As long as your finances fall within qualifying guidelines, you may still be eligible for a mortgage.
Can I buy a home if I’m self-employed?
Yes. Self-employed borrowers can absolutely qualify for a mortgage. You may just need to provide additional documentation, such as tax returns or business income records, to verify your income.
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Residential Mortgage Licensee, Company NMLS #414704
248 Lincoln Hwy, Waterman, IL, United States, 60556
Waterman Bank is an Equal Housing Opportunity lender and/or mortgage broker, as applicable. This website is for informational and lead generation purposes only and is not a commitment to lend. All loan programs, terms, rates, fees, and conditions are subject to change without notice. All loans are subject to credit approval, underwriting guidelines, and property approval.
Refinancing may result in higher total finance charges over the life of the loan. Not all borrowers will qualify. Loan products may not be available in all states.
Waterman Bank is not affiliated with, endorsed by, or acting on behalf of any government agency, including the FHA, VA, USDA, or any other government entity.
By submitting your information, you agree to be contacted by Waterman Bank and its licensed mortgage professionals by phone, text message, and/or email regarding mortgage products and services, including through automated technology. Consent is not required as a condition of obtaining credit.
To verify licensing information, visit https://www.nmlsconsumeraccess.org.
