The Financing Process
Demystifying Home Loans
The home loan process can feel overwhelming
By collaborating with a trusted lender and remaining informed through every step of the process, from pre-approval to closing, you can have a significantly more comfortable experience. You’ll want to consult with a mortgage specialist (or two) to find a professional who you are confident will provide you with the best care. To get an idea of what to expect, review the following home loan process steps.
Step One:
Get pre-approval
Before you start looking for a home to buy, it’s wise and proactive to meet with a lender to get pre-approved for a loan amount. Offers accompanied by a pre-approval letter are stronger and will stand out, especially when the seller is receiving multiple offers.
To gain pre-approval, your preferred lender will gather information about income, assets, and debts to help determine how much you can borrow. This includes gathering a credit report, W-2 forms, pay stubs, federal tax returns, and recent bank statements.
There are a variety of home loan programs offering different advantages depending on your unique needs and preferences. Your preferred lender can go over the specifics of each to ensure you find a loan option that best aligns with your needs.
Estimate Your Monthly Payment
Estimate your mortgage payment, including the principal and interest, taxes, insurance, HOA, and Private Mortgage Insurance.
Price
Annual Tax
Loan Term (Years)
Down Payment %
Interest Rate %
Monthly HOA
Monthly Insurance
$3,198.20
Estimated Monthly Payment
Principal
$2,398.20
(75.0%)Taxes
$500.00
(15.6%)HOA
$100.00
(3.1%)Insurance
$200.00
(6.3%)Step Two:
Find the best loan
Collaborating with a top-notch local loan officer will ensure you have access to competitive rates and programs that best fit your individual needs. Take the first step by completing this form to get connected today!
Atlantic Coast Mortgage
Jenna Stiltner
About Me
Jenna Stiltner has been doing business in real estate for over 20 years, acquiring a broad spectrum of knowledge along the way. Jenna started her career with a local Real Estate Attorney, where she mastered the closing transaction side of the business. Since 2015, Jenna has been originating loans as a loan officer for Atlantic Coast Mortgage LLC. Her success in that time has been exponential—she has been recognized as a winner of ACM’s Top Producing President’s Club Award every year since 2016, as well as several other industry accolades outlined below.
Jenna is currently a Vice President & Senior Loan Officer with Atlantic Coast Mortgage LLC, located in Charlottesville V.A., where she helps borrowers located throughout all of Virginia and North Carolina. She helped launch the Charlottesville Branch of Atlantic Coast Mortgage, and quickly became a well-known and trusted loan officer in the community. Jenna has successfully created an entire team—The Stiltner Team—to better assist her clients with around-the-clock support and customized one-on-one service. Together, Jenna and her team go the extra mile to make sure each and every client and business partner feels more like family than a client.
One of Jenna’s passions is giving back to her community. She is a firm believer in working with other local businesses to help grow and strengthen the community. To Jenna, it’s a full circle: The Stiltner Team at Atlantic Coast Mortgage LLC proudly donates on every loan transaction to local Charlottesville area organizations (and neighboring counties). Check out her Facebook to see firsthand what The Stiltner Team has been up to, and where she and her team have given back to the community!
While Jenna takes the utmost pride in her work and thoroughly enjoys assisting her clients towards their path of homeownership, there’s more to her than just her job title. Jenna loves her coffee—at any given time, you will find her working and sipping away on a cup. She also loves traveling and creating priceless memories with her husband and three children. Jenna married her now-husband, and business partner, Chris Stiltner in May of 2018, and the rest has been “happily ever after.” Other notable members of her family are her Australian Shepherd “Hudson” and her 3 rescued cats! If it’s warm weather, it’s safe money to bet that you can find Jenna outside doing some sort of activity.
It’s all of the above that combine to be what sets Jenna apart from the rest: Her dedication, knowledge, and passion for her work ultimately fosters the best mortgage experience for her business partners and clients.
Step Three:
Application and Processing
When you find the perfect property and your offer is accepted, your lender will help you complete a full mortgage loan application, discuss down payment options, and explain any related fees.
Then, your application is submitted for processing where the documents are reviewed. Your lender will also order a home appraisal and a property title search.
The next part of the application process involves sending everything to an underwriter who will review and approve the entire loan package to make sure it meets all compliance regulations.
It is not unusual to receive requests for additional documentation or clarification during this phase of the application process.
Step Four:
Signing and Finalizing the deal
Once your loan is approved, you’ll need to set up homeowners insurance.
Your documents will be sent to the title company and the closing will be scheduled for you to sign the necessary paperwork and pay any additional costs to complete the purchase of your new home.
After the loan goes through the required recording process, the purchase is complete, and you officially own your new home!
