Mortgage FAQ

The earlier, the better. Getting pre-approved helps you understand your budget and shows sellers you’re a serious buyer. Even if you’re just starting to explore, it’s a helpful first step.

It depends on your financial situation, goals, and timeline. We can help you compare your current costs with what homeownership might look like so you can decide what feels right.

• Should I Buy a House?
   

Not necessarily. There are loan options designed for a range of credit profiles. A conversation with a lender can help you understand what you qualify for and where you might improve.

• Does a Mortgage Application Affect My Credit Score?

It varies. Some buyers put down 20%, but many qualify for much less—and some programs even offer low or no down payment options. We can help you explore what’s available.

 

• You can apply online, by phone, or in person. Hills Bank does not charge application fees.

It’s helpful to have:

• Recent pay stubs
• W-2s or tax returns
• Bank statements
• Information on debts or existing loans

Don’t worry—we’ll guide you through exactly what’s needed.

Pre-approvals are typically valid for a set period of time (often around 120 days). Your lender can confirm timing and help you update it if needed.

The home loan process typically follows these steps:

1. Meet with a lender to discuss your goals and financing options.
2. Get pre-approved to understand how much home you can afford.
3. Find a home that fits your needs and budget.
4. Submit an offer and work with your real estate agent to negotiate terms.
5. Move forward with your loan application once your offer is accepted.
6. Lock your interest rate and begin loan processing. Your lender will verify your income and assets, review the home's appraisal, and complete the underwriting process.
7. Close on your home by signing the final documents and receiving your keys.

We're here to guide you through each step, so you'll always know what comes next.

• See a full breakdown of the home loan process
  • Home Loan Process

An escrow account is used to pay property taxes and insurance on your behalf. A portion is included in your monthly payment to help spread out those costs.

• Escrow Accounts: What You Need to Know

A realtor helps you navigate the home search, negotiate offers, and understand the local market—especially valuable if you’re buying for the first time.

• 5 Advantages of Working with a Real Estate Agent
• Want to dive deeper into each step? Home Loan Process

• That’s where we come in. We’ll walk through your goals, financial picture, and timeline to help match you with the right loan.

• An ARM has a fixed rate for an initial period, then may adjust over time. It can offer lower initial payments, depending on your goals and how long you plan to stay in your home.

• Rates matter—but so do service, communication, and local expertise. You want a lender who is responsive, transparent, and focused on your long-term success—not just closing the loan.
• 5 Advantages of Working with a Real Estate Agent

• We combine competitive rates with local decision-making and personal service. You’ll work with a dedicated lender that communicates clearly and guides you from start to finish.
• Your Hills Bank lenders and mortgage team work and live in the same communities that you do. We value your success and relationship in our community and have a strong desire to help you achieve your financial goals - together. 

• Yes—our online tools can help you estimate monthly payments, compare scenarios, and understand affordability. A lender can also help you run numbers.

Mortgage Payment Calculator