What is this loan?
A purchase loan helps finance the home you are buying. The lender reviews your income, assets, credit, debts, down payment, property, insurance, title, and loan program requirements before closing.
Mortgage Services · NMLS #2398363
Purchase
From pre-approval to keys, purchase guidance built for buyers who want clarity on payment, programs, and closing costs.
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How does it work?
The process usually begins with preapproval. Kimmer reviews your scenario, helps estimate payment and cash to close, and updates the file once you have a purchase contract. Appraisal, title, insurance, disclosures, and underwriting all happen before final approval and closing.
Who is it for?
Purchase financing is for first-time buyers, move-up buyers, downsizing households, eligible VA borrowers, and people buying primary homes, second homes, or investment properties when allowed by the program.
How fast can it close?
Purchase loans may often take 2–4 weeks after contract depending on appraisal, title, insurance, underwriting, seller timelines, and borrower responsiveness. No closing date can be guaranteed until the file is fully approved and ready.
Why would someone want this?
A purchase loan can help turn stable income and savings into homeownership, but the key is knowing the real payment, cash to close, program fit, and risks before writing offers.
What usually helps you qualify?
- Qualifying income and employment or other recurring income documentation
- Credit score, payment history, and monthly debts
- DTI that may fit the chosen program
- Down payment, closing costs, and assets/reserves if applicable
- Property type, occupancy, appraisal, insurance, taxes, and title
- Program guidelines and state/lender requirements
- Final approval subject to underwriting and property approval
Documents commonly needed
- ✦Driver's license or government ID
- ✦30 days of pay stubs, if employed
- ✦W-2s for the last 2 years, if applicable
- ✦2 months of bank statements, all pages
- ✦Retirement or award letters, if applicable
- ✦Purchase contract once accepted
- ✦HOA information, insurance, and property details as needed
Kimmer O'Reilly · NMLS #2398363
Kimmer@americanwinter.live · 1-509-528-1992
Email Kimmer with questions, scenarios, documents, or anything you want reviewed.