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Getting Started

Your journey to home ownership starts here.

What You Need to Know

Buying a home is a big step and although our online application makes applying easier than ever, we want
to make sure you’re prepared and have access to important financial information.

Shopping for a Home

Shopping for a Loan
VeraBank offers a wide variety of mortgage financing options and is happy to help you find the one that is
right for you.

Fixed Rate Mortgages
  • With a fixed rate mortgage, the monthly principal and interest payments remain the same
    through the life of the loan, making this option ideal for those who need to know exactly what they
    will pay each month.

Adjustable Rate Mortgages (ARM)
  • Commonly referred to as an ARM, this type of mortgage is a loan that offers a lower initial interest
    rate than most fixed rate loans. The trade-off is that the interest rate can change periodically –
    making your monthly payment go up or down throughout the life of the loan.

Special Program Loans
  • Rural Development Loans (USDA)
    These loans help those in qualifying rural areas become homeowners. Up to 100% financing
    in small populated cities and surrounding rural areas for first-time home-buyers and previous

  • Department of Veterans Affairs (VA)
    For Service Members and Veterans, these are government-insured fixed or adjustable rate loans
    with low down payment requirements and flexible qualifications.

  • Interim Construction
    Short-term financing for the construction of a new home with favorable interest-only payments
    during construction.

  • Home Improvement Loans
    A loan given for improvements to your existing home or home being purchased.

  • Consumer Land Loans
    A loan for purchasing small acreage or lots for your future home.

The Loan Application Process
  1. Gather Documents
  • Most recent two months’ Bank Statements (all pages)
  • Most recent 30-day pay stubs or Retirement/SSI Award Letters
  • Most recent two years’ W2s/1099s
  1. Complete Mortgage Application Package with all signatures (application and disclosures).

Educational Resources
In addition to the above information, we offer a large database of helpful information, definitions and
answers to frequently asked questions. Here is some of what you’ll find there.

Let’s talk! Our mortgage lenders are here for you.