Purchasing your first home can be exciting as well as stressful. With lots of moving pieces to get into place, you may be wondering how to handle applying for a mortgage.

Fidelity Federal is here to help! With a variety of mortgage loan options, plus special programs you may qualify for, we can help take some of the worry out of the process so you can focus on everything else you have to do.

Below, read about the mortgage loan options we have available, plus see our checklist of how to get started with your mortgage even before you begin house-hunting.

Mortgage Loan Options for First-Time Buyers

We have a program just for you: Our first-time homebuyer mortgage is a great option offering a 5% down payment and no PMI (private mortgage insurance) for a primary residence in Ohio.

Fidelity Federal also offers several other mortgage options, including fixed-rate, adjustable and construction loans. Let us help you find the one that fits your needs!

How Do I Apply for a Mortgage?

We make applying fast and easy. Schedule an appointment with one of our loan officers to discuss your unique goals, timeline and needs — or, if you’re ready, you can apply online to begin the process.

What Do I Need to Apply?

Your loan officer will let you know everything you need to provide during the application process. Generally, you can expect to need this information:

Proof of Identity and Legal Residency – an ID, Social Security number and proof of legal residency
Proof of Income
Employment History
Credit Report and Credit Score
Proof of Assets and Savings
Down Payment
Property Information
Loan Application
Closing Cost Details

What Is a Preapproval, and Should I Get Preapproved Before Looking for a Home?

A bank preapproval is a great step toward buying your first home. It’s essentially a mortgage application, but it gives you the knowledge to make an intelligent home purchase before signing the dotted line.

Once you receive your preapproval from your bank, you’ll know the maximum amount you can spend on purchasing a new home. (However, that doesn’t mean you should spend it all — be sure to calculate what your monthly payment would be and choose a home that will fit into your budget.)

This can give you leverage when negotiating a price because you know exactly what you’ll be able to spend without any surprises. Real estate agents generally also like to work with clients who are preapproved for the same reason. And since you’ve already collected the necessary documents for the preapproval process, it will be that much easier when it comes time to apply for your loan.

Home-Buying Checklist: From Preapproval to Mortgage Application

Check Your Credit Score
- Ensure your credit score is at least 660 (or higher for better loan terms).
- Review your credit report for any errors or outstanding debts.
Gather Financial Documents
- Recent pay stubs (last 30 days).
- W-2 forms or tax returns (last 2 years).
- Bank statements (last 2-3 months).
- Proof of additional income (if applicable).
Get Preapproved for a Mortgage
- Contact your lender to get preapproved for a loan.
- Submit financial documents for the lender’s review.
- Receive a preapproval letter stating the loan amount you qualify for.
Determine Your Budget and Down Payment
- Assess how much you can afford to spend on a home.
- Save for the down payment (typically 3-20% of the home’s price).
- Consider additional costs like closing costs and home inspections.
Start House Hunting
- Work with a real estate agent to find homes within your budget.
- Make offers and negotiate based on your preapproval amount.
Apply for a Mortgage
- Once your offer is accepted, formally apply for a mortgage with your lender.
- Provide any additional documents requested by your lender.
- Choose the type of mortgage.
Schedule a Home Inspection and Appraisal
- Hire an inspector to check the property for structural and safety issues.
- Your lender will order an appraisal to assess the home’s market value.
Review Loan Terms and Sign the Agreement
- Review your loan estimate (interest rate, monthly payment and closing costs).
- Finalize the terms with your lender and sign the mortgage agreement.
Close on Your New Home
- Attend the closing to sign the final paperwork and transfer ownership.
- Pay any remaining closing costs and receive the keys to your new home!

Need Help With Starting Your First Mortgage?

Fidelity Federal offers multiple mortgage programs when you’re ready to turn your preapproval into a mortgage. We don’t use phone centers — you’ll have a loan officer originate, underwrite and close your loan. It’s a personal touch we’re proud of.

Call us at 1-866-694-0505 or contact us online to start your home-buying journey today!