Why choose a mortgage with Vibrant?
Fast & friendly service
Low fees & competitive rates
In-house servicing for most loans
Which home loan is right for you?
- Lower monthly payments
- Take advantage of falling rates without refinancing
- May allow you to qualify for a larger mortgage
Rates as low as 4.125%*
- No chance that rising rates will increase your monthly payment
- Lock in a great rate with the option to refinance later
Rates as low as 4.750%*
10 & done refinance
- Fixed rate
- Low fees
- Doesn’t require a full appraisal
- May enable you to own your home faster
Rates as low as 4.250%*
How much can I afford to spend on a house?
Depending on the type of mortgage you choose, you may be able to make a smaller down payment—but don’t forget closing costs.
3 types of mortgage loans for first-time homebuyers
The right mortgage for you depends on how much you want to spend, what kind of interest rates are available to you, and how much you can afford for a down payment.
At Vibrant, getting a preapproval is free, can help you figure out how much you can afford to pay, and shows sellers that your offer is a serious one.
When a lender “prequalifies” you, they make the decision entirely based on what you tell them about your income, other creditors, and cash on hand. At Vibrant, our lenders go through the process of verifying your income, assets, employment, and credit history before we grant a preapproval, significantly reducing the possibility of last-minute surprises.
However, your final mortgage approval is also based on the condition and location of the property you purchase, which will be determined by professional inspectors and appraisers after your offer is accepted. That’s why it generally only takes a couple of days to receive a preapproval but several weeks longer to finalize your mortgage.
Buyers can expect to pay for property inspections, appraisal, title and flood search, and closing costs unless their contract with the seller states otherwise. These fees can add up to several thousand dollars, depending on your home, and are typically paid in a lump sum at closing, along with your down payment.