First Time Home Buyers

Your First Time Through the Mortgage Process?

Theresa will help you navigate your way to the best mortgage solution

Purchasing a home is more than just a smart financial investment – it’s an investment in yourself and your family.

Buying your first home is a big deal! It’s exciting but can sometimes feel overwhelming. Theresa and her team want you to enter the home market with confidence – no questions unanswered, no concerns unaddressed. When comparing renting to owning a home, renting can often seem like the less expensive option – especially when those first few years of homeownership can come with a lot of one-time, up-front expenses. However, the path toward financial stability is a marathon, not a race. Sometimes the more you put into something, the more you get out of it.

As your years of homeownership fly by, you will begin to build equity and increase your net worth with each payment you make toward your mortgage. Purchasing a home may cost more upfront, but the long-term return on investment may be worth it.

Down Payment

Your down payment is your contribution or a contribution on your behalf to the loan. There are down payment assistance programs to help you buy a home even if you have little or no money saved for a down payment. These programs are usually government sponsored (state, local or federal) or from non-profit sources. Most of these programs have income or geographic limitations and you may not qualify due to the maximum income limits. Theresa can guide you through this maze of programs and help you decide which best fits your needs and financial purposes.

Get Pre-qualified / Pre-approved

What does Theresa Springer do instead?

In today’s market it is essential to sit down with a reputable Senior Loan Officer, and go through a full credit review. This ensures that you do qualify without question for the home price you are pursuing. This process is not instantaneous but gives you definite peace of mind knowing that you’re shopping within your means. Your Realtor will be pleased and also will have much more negotiating power since you have a bank pre-qualification not just a mortgage originators best guess.

Once pre-qualifying for a mortgage is in place a letter is prepared that you and your Realtor can use to submit with your purchase agreement to the seller. This will document to the seller your seriousness about purchasing and give them the confidence in your ability to buy their home. Many Realtors will not even show homes unless you have been through the process to make sure you are a viable purchase candidate. Sellers may not accept your offer without the letter as well.

Another benefit is that you will have a better understanding of the amount of cash you may need to bring to closing.

Getting pre-qualified or pre-approved is the most important step in the entire process. When you sit down with Theresa, she will go over your financial picture and help you decide what loan or course of action is best for you in your situation. You may have heard there are differences between getting pre-approved and pre-qualified. There really is none. The CFPB (Consumer Finance Protection Bureau) has this to say:
Prequalification and preapproval both refer to a letter from a lender that specifies how much the lender is willing to lend to you, up to a certain amount and based on certain assumptions. These letters provide useful information, but are not guaranteed loan offers.

There’s not a lot of difference between a pre-qualification letter and a pre-approval letter. While there are some legal distinctions, in practice both terms refer to a letter from a lender that says the lender is generally willing to lend to you, up to a certain amount and based on certain assumptions. This letter helps you to make an offer on a home, because it gives the seller confidence that you will be able to get financing to buy the home. It is not a guaranteed loan offer.

Don’t worry about which word lenders use. Some lenders may use the word pre-qualification, while other lenders may call the letter a pre-approval. In reality, lenders processes vary widely, and the words they use don’t tell you much about a particular lender’s process. The important thing is that the letter you receive provides enough information for sellers in your area to take it seriously. The best way to make sure that the letter you have will serve its purpose is to ask a local real estate agent.

What can I afford and my Debt to Income Ratio?

This is an individual question and is entirely driven by what your needs and financial wants are in relation to the loan and home. Loans are also driven by “debt to income ratio” and this is a key aspect of what you can afford. Your debt-to-income ratio (DTI) is all your monthly debt payments divided by your gross monthly income. Your DTI is a key piece of the puzzle as is your credit score. The higher your DTI, the less likely you may qualify for a home loan. There are ways to lower your DTI or keep it from continuing to increase:

  • Avoid taking on more debt
  • Do not make large purchases prior to buying a home especially on credit.
  • Pay down or pay off debt if possible

Credit Score

Many times, borrowers feel they must clean up their credit prior to applying for a loan – STOP! Doing this on your own can be a big mistake that may take you months to recover from and result in missing out on that perfect home. Credit is complicated and trying to do something on your own can have negative and long term effects that you may not even know until you go to APPLY for a home loan. In today’s world just paying off debts and collections or closing accounts may be catastrophic for your credit score. Many times, scores are just where they need to be and you may not need to do anything, this is why it is imperative to chat with Theresa before doing something that could hurt you long term. Theresa will help you get the best information and work with you to make sure you do not make these mistakes.

Rent v. Own

  • In many cases, the cost of ownership is actually less than renting.
  • Property taxes and interest can be itemized for tax deductions. *Not tax advice, consult a tax advisor.
  • Experience the freedom to renovate and make your home feel truly “yours.”
  • With stable monthly mortgage payments, you don’t have to worry about unexpected, sporadic rises in rent.
  • Make a positive impact on your credit score when paying down your home loan on time.

Making a Difference.

“We would like to attest to the professional services we received from Theresa Springer. She was able to obtain an home loan on our extremely complicated real estate transaction. Additionally, we were under a time constraint due to the numerous loan rules that challenge borrowers today. Theresa was able to work with us in a knowledgeable, efficient and detailed fashion. She was always responsive to our questions and needs, even after hours and on the weekends. We fully recommend Theresa to anyone seeking to obtain a mortgage.”

-- Ken and Kiri T.

Theresa Springer and Suzy Major were amazing to work with! Professional, friendly, patient - and amazingly fast. Thank you so much for helping with my 'unique' situation and closing so fast! Highly recommend!

-- Debra C.

Theresa sat down with us and helped us clean up our credit, showed us what we couldn't see, and over the course of a year we were able to purchase our first home. Not only was she helpful up front, but Theresa made the entire process painless. Her help and personal attention was priceless. Just recently, when rates were dropping Theresa contacted us and helped us through a refinance. Thanks for helping us with everything! Theresa will be hearing from us soon on our next home purchase!

-- Cory & Bob

Theresa is amazing! They say that knowledge is power... and she certainly has command of the knowledge required to excel at her business. What is truly impressive is her ability to put that knowledge to work for her clients and associates. Her style of communication is direct and easy to understand...which makes her easy to work with. Do yourself a favor and find a reason to work with Theresa... you will be better for it!

-- Mike F.

Theresa is my 'go-to' person when I have questions regarding anything that has to do with the economy... let alone the mortgage business. Her style of communication is direct and easy to understand... which makes her easy to work with. Do yourself a favor and find a reason to work with Theresa... you will be better for it!

-- Mike F., Marketing Director

In working with Theresa, I've had the opportunity to interview several of her clients and see her work up close. Plain and simply, she's phenomenal at what she does. She has a real understanding of both construction and residential lending and goes way beyond what many financial institutions will do to help you secure not just a loan, but a loan package that you can live with and that fits your unique needs. I highly recommend giving Theresa a call if you're looking to build a property, or buy or refinance a home.

-- Drew Z., LeftBrainRightBrain Marketing

Theresa's knowledge of residential lending is outstanding, especially as regards the remodeling and building industry. Couple that with her warm and endearing demeanor and you have a professional loan officer that serves your best interest in the most pleasant way possible. We regularly recommend her and will utilize her services the next time we need financing help.

-- Mitch and Arlene S., Stanley Home Renovation & Design, Inc.

I was beginning to lose hope on this loan project until Theresa became involved. More importantly, I knew my client was in good hands with her! Thank you Theresa!

-- Sherrie K., Attorney

We just can't say enough about Theresa's professionalism and perseverance. She has been a delight to work with from start to finish and we wholeheartedly recommend her!

-- Jim A., Arney Construction, Inc.

Theresa was genuinely interested in and dedicated to our project and took pride in following it through to the end. Without Theresa's guidance and commitment, we may have sold our house and missed out on the beautiful home it is today. Thanks a million Theresa!

-- Amy & Paul W.

Theresa sat down with us and helped us clean up our credit, showed us what we couldn't see, and over the course of a year we were able to purchase our first home. Not only was she helpful up front, but Theresa made the entire process painless. Her help and personal attention was priceless. Just recently, when rates were dropping Theresa contacted us and helped us through a refinance. Thanks for helping us with everything! Theresa will be hearing from us soon on our next home purchase!

-- Corey & Bob

For years, my husband and I debated whether we would remodel our home or move. Our desire was to remodel, but we just didn't know where to begin. One of the biggest deterrents was the financing. We had no idea how to finance such a large project and weren't educated on the options available to us. But when we found Theresa Springer, it was like finding the key to building our dream home. Theresa clearly explained all of our options and walked us through every step of the project. Even when we were well on our way, she was available for questions and checked-in on a regular basis to make sure everything was running smoothly. Theresa was genuinely interested in and dedicated to our project and took pride in following it through to the end. Without Theresa's guidance and commitment, we may have sold our house and missed out on the beautiful home it is today. Thanks a million Theresa!

-- Amy & Paul W.

We went through a very challenging purchase where, after accepting our offer, the seller couldn't produce clear title. Theresa's extraordinary knowledge was our greatest advocate - she'd even advised the title company as to what steps needed to be taken. In the end, we walked from that purchase, but Theresa stood by us through it until we eventually found the beautiful home we did ultimately purchase. She's an incredible professional and we can't recommend her strongly enough!

-- Drew & Linda Z.

Theresa guided us through the home loan process, and assisted us every step of the way. She is the ultimate professional with experience and a personable, caring attitude. Her knowledge and diligence made all the difference, and she kept us informed every step of the way! We felt very fortunate to have her expertise, and any home buyer would be lucky to have her on their team. Theresa went the extra mile to guide us through the requirements and options, and her whole team was very knowledgeable and responsive. Thanks for making this possible for us, we love our new home!

-- Ellen and Ross H.

We had gone through the mortgage process roughly a year and a half ago, but were unsatisfied with the service the USAA provided us. They threw an unexpected curveball at us very late in the process that had us giving them another $25,000 to close on our home. Due to falling interest rates, as well as a desire to get that cash out to do some home improvements, we were interested in refinancing our home. Theresa knew how to walk my wife and I through the process -- we were completely blown away by how professional and knowledgeable she was. I am referring as many people to Theresa in the course of my business as possible. You probably get these kinds of e-mails all the time, but I thought I would let you know of how satisfied my wife and I were with Theresa.

-- Mark L

It was not clear at the onset whether it would be financially possible for us purchase our home. However, with Theresa's creative and persistent approach, we were able to secure a loan and purchase our new house. Theresa and her staff were always cordial and seemed to share our enthusiasm about our new house, and were always available for questions and promptly returned our calls or emails (even on weekends). I highly recommend Theresa and Movement Mortgage for anyone looking for a home mortgage!

-- Mark L

We've worked with Theresa for years on a mortgage, re-fi and now an equity line of credit to cover some unexpected remodeling due to some water damage. As usual, she's super knowledgeable, easy to work with, very communicative and just gets things done - complete stress buster in terms of getting as loan. If you need a home loan of any type, Theresa's the ONLY call you should make and you're making a huge mistake if you don't! She rocks!

-- Drew & Linda Z.

I appreciated that you were always available to answer all my questions. Thank you for everything!

-- Cataline V.

As first time buyers it was a very smooth experience. We were absolutely very satisfied!

-- Joshua & Leslie S.

Theresa and her team got it done when others couldn't!

-- Chandler W. & Teresa R.

Information provided is believed to be accurate as of the date posted, information is subject to change without notice.
Please consult your tax advisor regarding mortgage interest and/or mortgage insurance deductions. Models/Lifestyles shown do not reflect ethnic/racial preference.
CA-DOC283982, OR, WA MLO-283982 | Movement Mortgage, LLC supports Equal Housing Opportunity. NMLS ID# 39179 (www.nmlsconsumeraccess.org) | 877-314-1499. Movement Mortgage, LLC is licensed by10101708“CA Department of Business Oversight under the California Residential Mortgage Lending Act” # 4131054, OR # ML-5081, WA # CL-39179, Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company. 8024 Calvin Hall Rd, Indian Land, SC 29707.