5 steps to get you home.
Understanding the home-buying process
We want to make the home-buying process as easy as possible, so we’ve laid it out in just 5 easy steps. From pre-approval to closing this guide is tailored to first-time home-buyers. And don’t worry an HCU Real Estate Loan Consultant will be along with you, every step of the way.
It's the Heartland Way.
- Home loan application (online)
- Meeting with a Real Estate Loan Consultant (in person, on the phone or via email) to evaluate your unique situation
- Providing us your two most recent W-2s or federal tax returns (if self-employed or receive commission) and pay stubs
- Two months of bank statements
- See full list of important documents.
After this step, you’re ready to work with your real estate agent to find a home and make an offer.
- Address credit inquiries or issues on your credit report
- Explain large deposits that appear on bank statements (will require source documentation)
- Verify the source of down payment funds
- An appraisal, plus title examination and other legal documents
- Verification of employment and assets
- Termite, septic and well inspections if your real estate agent didn’t order them
- A condominium questionnaire, sent to the appropriate party for completion (if applicable)
Our underwriting team thoroughly inspects every document and ensures everything is compliant and meets regulatory standards. We may request additional documentation and clarification. If we do, provide the information to your Real Estate Loan Consultant quickly to keep the process moving forward.
After their inspection, the underwriting team gives the loan approval to close.
Congratulations, you made it! It’s time to close. Bring your driver’s license and cashier’s check or money order for the down payment and closing costs (you may be able to wire these funds, too). After closing, we give your loan a final review to ensure no future obstacles.
Several steps of the mortgage process may require additional documentation. If documents are older than 90 days at time of closing: You’ll be asked to provide updated documents, e.g., pay stub or bank statement and a new credit report will be pulled. After closing, additional signatures or documents may be required.