Start your homeownership journey with a first mortgage.
Taking the first steps toward becoming a homeowner is exciting, and securing the right mortgage is a key aspect of that process. Here at Harbor Mortgage Company, we help first-time and repeat homebuyers navigate the primary mortgage process, offering the expertise and advice you need to move forward with confidence and clarity.
What Is a First Mortgage?
In simple terms, a first mortgage is the primary loan used to purchase a home. It is secured by collateral and holds the first position in the repayment priority — thus, the name “first mortgage”. This repayment positioning means that if the borrower defaults, the first mortgage is what gets repaid from the proceeds of the foreclosure before any subsequent loans, such as a second mortgage or a home equity line of credit.
There are several options for first mortgages, and we can help you determine what would work best for your current financial position and your future goals. Common options include fixed-rate mortgages, adjustable-rate mortgages, and first-time homebuyer programs.
The First Mortgage Approval Process
The key steps are as follows:
- Pre-Approval
- Property Selection
- Formal Application
- Processing and Underwriting
- Closing
You can count on us for personalized guidance, a streamlined process, and ongoing support, even after closing. We’re proud to assist prospective homebuyers in the Bloomingdale, Georgia area, and our experienced mortgage advisors would love to talk with you about your options.
If you’re ready to begin your homeownership journey, don’t hesitate to reach out to us. We’ll help you find the right fit for your needs!
At Harbor Mortgage Company, we offer first mortgage loans to those in Savannah, Bloomingdale, Fort Stewart, Garden City, Georgetown, Hinesville, Pooler, Port Wentworth, and Richmond Hill, Georgia, as well as Bedford, Carrollton, Colleyville, Coppell, Flower Mound, Grapevine, and South Lake, Texas.