We’ll make you feel right at home.

So you’re ready to purchase your first home. Congratulations! The prospect of becoming a homeowner for the first time is exciting but it can also be overwhelming. If you’re not sure what to expect, don’t worry, that’s why we’re here. At Embrace®, we’ll guide you every step of the way, from figuring out what you can afford to what documents you’ll need at closing. We make the process as simple as possible, so you’ll feel right at home long before you move in.

Loans tailored specifically to first-time homebuyers
Our personalized approach makes us the ideal lender for first-time homebuyers. We offer a variety of loans, including FHA, VA, USDA, and Conventional, and we can help you find the mortgage that’s right for your specific situation. We also have exclusive programs like Approved to Move that make shopping for a home more convenient and worry-free. We’re so confident that you’ll close on time, we put money on it —with our Guaranteed On-Time Closing. With our GOTC offer, if you miss the date, we’ll review the circumstances and pay you $2,500 within 60 days of closing if we determine it’s our fault. To qualify, submit your requested loan documents within five days of your application. Only Conventional, FHA, and VA purchase loans are eligible. Excludes state housing/bond, renovation, and Jumbo loan programs.

What type of loan are you looking for?
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Approved to Move

When you find the house of your dreams, you want to be ready. With Approved to Move, you can have a fully underwritten approval before you find a home. Approved to Move is virtually as good as a cash offer, which helps you stand out from other potential buyers, and sellers love it. Learn more about Approved to Move

How much house can you afford?

It’s important that you end up with a monthly mortgage payment that feels comfortable. But how do you know what you can afford? Our Affordability Calculator is a great tool to help you evaluate your unique financial situation and understand what size loan and monthly payment will work best for you.

Our calculator shows different examples of what your loan size and monthly payment might be. Just plug in your annual income, other various assets, and any monthly payment obligations, such as car payments and student loans — and then experiment with different scenarios. Try various interest rates, down payment amounts, property taxes, and mortgage terms to see how they impact your monthly payments.

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Why use Embrace® for your first home loan?

We’ve been helping first-time homebuyers qualify for home loans for decades. At Embrace®, you’ll work with the same knowledgeable loan officer from start to finish. And our loan officers are very knowledgeable in their fields.

Embrace® also offers exclusive programs that make the process easier. With our revolutionary Approved to Move, you get a fully underwritten mortgage approval before you even start looking for your dream home. This gives you an advantage over other potential buyers who may only be pre-qualified or pre-approved.

Frequently asked questions

Can I get a mortgage without a credit score?

Actually, yes you can. If you’ve paid off all your debt, it’s possible that you won’t have a credit score when you apply for a mortgage. You’ll just need to supply some additional paperwork so the underwriter can review it personally – it’s a process called manual underwriting, and it might make the mortgage process take a little longer than usual.
At closing, you’ll sit down with those involved in your real estate transaction and sign all the legal documents needed to give you ownership of your new place. You’ll also be responsible for paying closing costs, which are typically 3–4% of your home’s purchase price.
The higher your credit score, the better your financing options will be. But you can get approved with a credit score as low as 640, as long as you meet the other loan requirements.
Closing costs can be divided into two main categories: the lender and unaffiliated third-parties. Lender fees include any costs associated with processing your loan, such as prepaid interest, discount points, origination charge, and any rate lock fees. Third-party fees include fees paid for services performed by parties other than the lender, such as appraisal fees, title service fees, and government recording fees. These fees are either imposed by the state or local government or by the individual vendors that provide the service. They also include pre-payments for taxes and insurance that are placed in an impound or escrow account.
The time needed to complete the mortgage process varies by customer and lender because it includes gathering information from a customer, verifying that information, and processing the actual loan. The average amount of time to close on home purchases is 47 days across all loan types, according to Ellie Mae. Purchase loans generally take longer to close than refinance loans by an average of 12 days. Factors such as the loan type and contract dates can affect closing times.
When you first meet or speak with a loan officer, they’ll want to learn a few basics about you and your financial situation. Once the loan process gets started, you’ll need to provide proof of employment, your income, your assets, any debts you may have, and how much you plan to put toward a down payment. Our loan officers will explain your mortgage options, answer all of your questions, and walk you through each step of the process so you feel confident in your decision.

Work with a real estate agent. Time is money, and an agent can save you both. Agents can send you listings that fit your parameters, and they often know of new listings that aren’t yet on the market. Some agents will preview homes for you, and they’re good at spotting overpriced listings.

Save for a down payment. Start saving for a down payment as soon as you can. Putting 20% down is traditional, but some FHA programs allow as little as 3.5% down. Just realize that a lower down payment may mean higher costs down the road.

Check and monitor your credit. Your credit is key. It will determine if you’re approved for a mortgage, and could also affect your interest rate and loan terms. So check your credit, dispute any errors, and look for opportunities to improve your score, such as making a dent in any outstanding debts.

Pick the right house. Right house, wrong neighborhood? It happens. Be sure to look at local crime statistics, and map the nearest hospital, pharmacy, grocery store, and other places you’ll frequent. Also, drive by the house on various days and at different times to check out traffic and noise levels.

Negotiate the offer. First-time homebuyers often miss the opportunity to negotiate the offer price. This is another way a real estate agent can be helpful. They can provide comparable sales, examine pending sales, and keep you in a reasonable price range.

"Stuck with us through the very long process of finding a home! Always willing to help and answer questions when needed. Thank you!!" - Christin, VA
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30-Year Fixed-Rate Purchase Mortgage Example:
*Assumptions. The monthly payment on a $270,000 30 year fixed-rate mortgage at an interest rate of 6.50% with a 90% loan-to-value (LTV) would be $1,706.59 with 2 points due at closing and an Annual Percentage Rate (APR) of 6.784%. Payment does not include taxes, insurance premiums and certain other fees that will result in a higher monthly payment. Assumptions are based on current market rates and other factors. Mortgage insurance may be required for LTV >80%. If mortgage insurance is required, it will increase the APR and monthly payment. Terms are subject to change without notice and may not be available at the time of application. Loan amount and other restrictions may apply in certain areas.