Home Buyer’s Guide

This home buyer’s guide will walk you through the major steps of the home buying process so you know what to expect. If you have additional questions, our knowledgeable loan officers are always available to help.

Home Loan Toolkit


Starting the Process

  • Check your credit report. You can pull your credit report once a year for free at www.annualcreditreport.comThis will identify if there’s any inaccurate information being reported against you.
    Note: This will not provide you with a credit score without payment.
  • Determine your household budget. Use our free home loan calculator to receive an estimate on the proposed monthly payments.
  • Determine how much money you have to put down towards your new home and closing fees.
    • If you are unable to put at least 20% down on the purchase of a new home, you may have to purchase private mortgage insurance. 



  • Fill out a one-page form to determine how much you can borrow.  Most realtors recommend having a pre-qualification letter prior to purchasing a home.

Prequalification Form


Loan Application

  • After the seller approves your offer, you’ll need to complete the loan application. This is required to move forward with any home loan because it starts the home loan process.  
  • Your loan officer will provide you with the required disclosures with our loan offer to you.  

Home Loan Application


Loan Approval 

  • After you receive the preliminary disclosures, we will ask you for the additional documents that are required for a home loan.
  • Your loan officer will order an appraisal and title insurance on your behalf so it can be reviewed prior to loan closing.
  • Although not required, some inspections, including the whole home or pest, may be a good idea to complete. 
  • What documents will I need?
    • Current driver’s license or another form of photo identification
    • Purchase contract, if applicable
    • Most recent:
      • Two years of tax returns, including W-2s
      • Two months of bank statements, including images of checks & deposits
      • Two months of pay stubs or payroll information with year-to-date totals
      • Retirement and/or investment statement



  • Talk to your loan officer regarding the location and accessibility of your down payment money.
  • Schedule a closing time with your loan officer.  
  • Schedule a time to use our moving truck for free! 
  • Sign all your documents with your loan officer at Farmers State Bank.
  • We’ll take care of getting the required documents and funds to the escrow/title company that was selected in the loan application process.