Home buying 101 - Family Frames hanging on the wall

Your home buying story starts here.

Whether you’re purchasing your first home, or you’ve been down this road before, we can make buying a new home easy and exciting.

Embrace offers all types of loans from FHA to VA to Conventional and more, with fixed and adjustable rate options. Whatever your level of home buying experience, our specialists take a personalized approach to help you find a loan that fits your specific needs.

We also offer proprietary programs that make the home buying process faster and more convenient. With our revolutionary Approved to Move, you can have a fully underwritten mortgage approval before you even start looking for a home. This gives you an advantage over other potential buyers and helps your offer stand out from the rest.

Found that perfect fixer-upper? Our Ready For Renovation mortgage options can help you buy a home in most any condition, make immediate improvements or renovations, and pay for them over time with financing up to 110% of the after-improved value.

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First-time homebuyer

Our personalized approach makes us the ideal lender for first-time homebuyers. We’ll explain the homebuying process and guide you every step of the way to make sure you’re comfortable from application through moving day. Learn more about our first-time homebuyer loans

Home Buying Process

What happens during the process?

Getting a mortgage doesn’t have to be overwhelming. At Embrace, we’re here to make the process as stress-free as possible. Buying a new home should be an exciting time, and we want to make sure you enjoy every second.

Whether you’ve already found your dream home, are actively shopping, or you’re just starting to look, you probably have some questions about how to get the financing you need.

Download our Home Buying Guide

Frequently asked questions

What's an escrow account?

Your mortgage payment may include additional costs like your homeowner’s insurance and property taxes. We can add the monthly portion of each of those accounts to your mortgage payment. That money is held in an escrow account managed by a third party to make sure those costs are paid on time.
Getting a home appraisal is a standard part of the mortgage process. When you use a home as collateral for a loan, the lender wants an appraisal report to make sure the loan will be guaranteed by the value of the property. Appraisals are conducted by a third party company and are not influenced by Embrace Home Loans. Home appraisals are determined by comparing recently sold homes in the same neighborhood as the property you are interested in purchasing or refinancing. The appraisal company provides a report to Embrace after the appraisal is conducted.
That’s a question only you can answer because there are benefits to both. Buying could be a better option for you if you plan on living in your home for at least three to five years. The type of loan you choose also comes into play. Use our Rent vs. Buy calculator to weigh your options.
Factors to consider before buying include the price of the home, interest rates, location, and your financial situation. You should have a stable job and plan to stay in the home for at least three to five years. You should also have enough money saved for a down payment and closing costs. When interest rates are low, it's a good time to buy. But you don't want to keep waiting for rates to drop and miss out on an opportunity either. Only you can determine if you’re ready to buy! Use our helpful mortgage calculator to see how much home you can afford today.
Everyone's financial situation is different. It’s important to figure out what you can comfortably afford to borrow, which depends on four factors:
  • Your debt-to-income ratio (your total monthly payments as a percentage of your gross monthly income)
  • Cash you have available for a down payment and closing costs
  • Your credit history
  • The value of the home you’re buying
So how much home can YOU afford? Use our handy mortgage calculator and find out!
Owning your own home gives you a sense of belonging in your community, and pride knowing that you reached your goal of attaining homeownership. Interest payments are typically tax-deductible, and you’ll be building equity each month with your mortgage payments instead of lining your landlord’s pockets.

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