What are your next steps? Call for a free pre-qualification consultation. Contact a Civista Mortgage Lender for a free pre-qualification consultation. We calculate the payment you can afford before you start home shopping. During the homebuying process, a title research company will check to make sure the property you are purchasing has a clear title, meaning there are no judgments, levies or other claims against it. Title insurance protects the insured parties from financial loss due to an unforeseen title issue that may arise and affect the ownership of the property. Want to learn more? Civista offers free learning courses to help you better understand the homebuying process and mortgages. Visit The Civista Learning Vault at www.civista.bank/civista-learning-vault for free financial education courses. Frequently Asked Questions You’re not alone. Many first-time homebuyers have questions about this process. Here are some of the most frequently asked questions. What is mortgage insurance? Mortgage insurance helps homebuyers pay less for their down payment while protecting lenders from loss if a homeowner can’t repay the loan. With conventional mortgages this is called Private Mortgage Insurance or PMI and traditionally is required for loans with less than 20% down. What is an escrow account? An escrow account allows the bank to pay ongoing homeowner’s insurance and property taxes for you. As part of your monthly mortgage payment, you pay a portion of your property taxes and insurance premiums. Then, when property taxes and insurance premiums are due, we’ll make the payments on your behalf with the money in your escrow account. What is title insurance?
Ready to Apply Apply for a home loan in person or online. Call your local Civista branch to speak with a Mortgage Lender or visit our website to find a lender near you . After you’ve found your Mortgage Lender, apply online to begin the homebuying process.
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