Timelines vary by loan program and property.
A Special Tip: get pre-approved before you start touring homes. In a competitive market, a stronger approval can help your offer stand out.
How It Works
The Path to Your New Home
Phase 1
Get Ready
1
Talk to an Altitude loan officer and complete your application
2
Provide your income, asset, and credit documentation
3
Get pre-approved for a specific loan amount
Phase 2
Find Your Home
4
Tour homes with your real estate agent
5
Submit an offer and sign a purchase contract
6
Sign your initial loan disclosures
Phase 3
Close and Get Your Keys
7
Appraisal and home inspection are completed
8
Submit an offer and sign a purchase contract
9
Provide your income, asset, and credit documentation
Loan Programs
Options to Fit Your Needs
As low as 3% down*
Conventional
Not backed by a government agency. Qualified first-time and income-eligible buyers may put down as little as 3%; many other buyers start around 5%.
3.5% down*
FHA
Backed by the Federal Housing Administration, with more flexible credit requirements.
Up to 100% financing*
VA
For eligible active-duty service members, veterans, and surviving spouses, with no monthly mortgage insurance.
Up to 100% financing*
USDA
For eligible homes in qualifying rural and suburban areas. Income limits apply.
Higher loan amounts
Jumbo
For loans above the conforming limit in your area. Typically requires stronger credit and larger reserves.
Help with upfront costs
Down Payment Assistance
Local bond and assistance programs that may help eligible buyers with down payment and upfront costs.
For self-employed buyers
Non-QM & Alternative Income
Bank statement, 1099, and P&L loans for borrowers whose income doesn’t fit traditional guidelines.
Not sure which fits?
Fixed-rate vs. ARM
A fixed rate holds steady for the life of the loan. An ARM often starts lower, then adjusts after a set period.
*Down payment, credit score, and income requirements vary by loan program and individual circumstances. All loans are subject to underwriting approval. Terms, conditions, and availability vary by program and state.
Be Prepared
What you may need
Your list depends on how you earn income and the loan you choose. Your loan officer will send a checklist for your situation; these are the most common items.
If you earn W-2 income
Pay stubs from the last 30 days and W-2s from the last two years
Federal tax returns from the last two years
Government-issued photo ID
Two months of bank and asset statements
If you’re self-employed...
Year-to-date profit and loss statement, two years of business tax returns, and a balance sheet if available.
If it applies to you...
VA Certificate of Eligibility and DD-214, retirement or Social Security income letters, or a divorce decree.
Free Homebuyer Guide
Everything you need to know, in one place.
A step-by-step companion for every stage of buying, from budgeting and loan options to moving day. Includes checklists, a mortgage glossary, and answers to common first-time buyer questions.
