Buy the home you'll build a life in

Homeownership is a milestone to celebrate. Before you can pop open champagne, you'll need to prepare for the home-buying process.

Buy the home you'll build a life in

What to know before you buy

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Before you begin your home-buying journey, make sure you understand your financial health.

  • Your credit score.  In short, the higher your credit score, the better mortgage rate you can get. You can get a free credit report every year. Examine your copy and follow the processes to correct errors and make modifications.
  • The difference between pre-approval and pre-qualification. Pre-qualified means you are on the road towards approval; pre-approved means you’ve applied and heard “yes”.
  • How much you can afford. The rule of thumb is three times your annual income. A loan officer can help you narrow it down to a more precise amount and even provide a pre-qualification letter.
  • Total cost of ownership (TCO). In addition to the monthly payments, consider local taxes, insurance, maintenance, utilities, renovations and association fees (if any). Calculate what you can afford.

Insights for first-time homebuyers

Lending Insights

First-time home buyers: don’t let these mortgage myths stop you from making your move

As “For Sale” signs pop up like crocuses, the home-buying season bursts into full bloom. But too often, mortgage myths dissuade potential first-time home buyers from taking that step from renting to owning.
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5 Insights for home buyers in 2019 on tax reform, technology and straight talk

Is this the year you plan on buying a new home? Across our region, the market continues to be tight: Lots of competition for a small inventory of available homes and a housing stock that is older and usually in need of updating.
Lending Insights

How a home equity credit line works

A home equity credit line, often called a HECL or HELOC, is a revolving line of credit that is secured by a lien placed against your home. Often, customers ask how a HECL differs from its sister, the home equity loan.

Get moving with the right home mortgage

Explore your loan options: fixed-rate, adjustable, jumbo, construction, and government-assisted. Unlock the door to possibility and find the mortgage that fits your finances.

Find the right mortgage
Get moving with the right home mortgage from Webster Bank

Get closer to closing 

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Once you're ready to make a move, here are some actionable steps that will take you from dreaming to doing.

  • Select a mortgage type & lender; get pre-approved. You will need to provide satisfactory income verification
  • Find a real estate agent & attorney. Ask for referrals from your network, interview candidates and ask for references. Have your attorney review the contract.
  • Compare neighborhoods. Consider property taxes, school systems, amenities and commuting costs.
  • Make an offer & negotiate. Your agent can guide you on an appropriate offer and include any requests you have.
  • Make it official. Be prepared to sign papers at the closing. Your attorney will let you know exactly what you need to bring.
  • Get the keys & celebrate. Congrats! You're now a homeowner.

Mortgage loan insights

Lending Insights

What you need to know about getting a mortgage

While there is never certainty with regards to when is the best time to enter the housing market, the idea of homeownership continues to resonate with most Americans and the concept of home ownership being central to the American dream remains very much alive.
Lending Insights

Know before you owe: mortgage and home equity key drivers

When applying for a mortgage or home equity loan or line, there are some equations that come into play. Here are the most common factors that will be calculated to determine your credit worthiness.

Disclosures

All loans are subject to credit approval.