Mortgage

There's no place like home.

We want you to make yourself at home. Better yet, we want you to feel comfortable making a house a home. Whether you’re in the market for your first place, a bigger place to raise your growing family, or a peaceful place to enjoy retirement, we’ll be with you every step of the way.

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PTM BENEFITS

Mortgage 101

Mortgages aren’t one-size-fits-all. While these guidelines can give you an idea of what to expect, your finances and homebuying goals are unique to you. Our Home Lending Advisors can guide you on your homebuying journey to help you find the perfect mortgage.

 Finances

Debt-to-Income Ratio (DTI)

Monthly debts (new mortgage, loan, and credit card payments) divided by your gross monthly income (income before taxes and deductions). Aim for a DTI of 42% or less.

Employment History

Two-year job history in the same industry without any employment gaps.

Credit Score

Minimum credit score of 620 (The lower your score, the higher your down payment must be.)

Funds

Cash for a down payment and closing costs.

 Documents

Valid ID

Social Security card and either your driver’s license, passport, or U.S. alien registration card.

Proof of Income

Recent pay stubs and W-2 forms.

Payment Statements

Rent, loan, or credit card statements.

Proof of Funds

Bank statements, and investment account statements or gift letter if applicable.

 Budget

Monthly Mortgage Payment

Should be no more than 25-30% of your gross income

Closing Costs

3-5% of the home price due at closing

Down Payment

5% is the most common down payment amount. Your credit score may require higher down payment.

Insurance

Homeowner’s insurance is required. Private Mortgage Insurance (PMI) may also be required.

Utilities

Monthly service fees such as water, gas, sewer, and electric

GET PRE-QUALIFIED

Ready to get started?

Fill out our application to get pre-qualified or contact one of our Home Lending Advisors.

Get Pre-Qualified

Home Lending Advisor, Brad

Brad


Home Lending Advisor
NMLS# 463990

865-266-3883
[email protected]

Home Lending Advisor, Joe

Joe


Home Lending Advisor
NMLS# 1321793

865-441-2742
[email protected]

MORTGAGE CALCULATORS

How much house can you afford?

Homebuying can have many upfront costs, but you don’t need to sweat it. Just plug in the numbers, and we’ll do the math.

MORTGAGE PAYMENT CALCULATOR

OTHER HOME LENDING CALCULATORS



FREQUENTLY ASKED QUESTIONS

We've got answers.

  • Yes, you can apply even if you aren’t a member. Once you are pre-qualified you will need to open an account before closing on your mortgage.

  • Typically, it takes 30 to 45 days from the time you submit your application to closing.

  • Typically, you’ll need to provide documents that support proof of income (pay stubs, tax returns), employment verification, any bank and investment account statements, identification (social security card, driver’s license, passport), and information about any loans you already have.

  • Closing cost fees are charged by lenders and third parties during the mortgage loan closing process. They typically include appraisal fees, title insurance, attorney fees, and loan origination fees.

  • Yes, you can apply for pre-qualification, submit documents electronically, and communicate with your lender all online.

RESOURCES

Need additional help?


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