Tri-Cities Home Loans

A pre-approval letter is a document that states the dollar amount a lender is willing to lend toward a home purchase. It is important to have it when you start house hunting because it will show both your real estate agent and the sellers' agent that you’re a serious and qualified buyer.

Closing costs are the fees and expenses you pay for a home loan and are typically between 2% and 6% of the loan amount. Closing costs consist of lender fees—such as the loan origination fee and discount points—as well as third-party fees, escrow account funds and prepaids like taxes and insurance.  

At Solarity, we offer transparent loan pricing: our loan origination is a low, flat fee instead of the more common 1% of loan amount. The advantage of a flat fee is that no matter how large your loan is, your loan origination fee remains the same, which can save you money at closing.

Lenders are required by law to clearly disclose closing costs at the bottom of Page 1 of the standardized Loan Estimate form, which you can explore here. Lenders must deliver this form within three days of receiving your application. Whether you’re buying or refinancing, it doesn’t cost anything to apply for a home loan at Solarity, and you can apply online in just a few minutes. Once we receive your application, we can estimate how much you’ll need to bring to closing.

Still have questions about closing costs? Connect with our expert Home Loan Guides who can clarify any further questions you may have.

Solarity has a number of no down payment and low down payment options. For many loans, Private Mortgage Insurance or PMI may be required if you put less than 20% down. Read more about down payment requirements and saving for a down payment.

We can typically turn around a pre-approval letter very quickly - within 48 hours and a pre-qualification letter the same day. Supplying as much financial information as possible to our expert Home Loan Guides will move the process along quicker.

Want to learn more about what a pre-approval is and how it works? Watch our video.

Definitely not (unless you want to)! You can do the ENTIRE process online, applying for a Solarity home loan from your home computer or mobile device. In addition, you can call our expert Home Loan Guides. If you walk into a branch, we can connect you with our Home Loan Guides that way, too!

We will work around your schedule and will communicate with you in the manner that's most convenient for you. We go to great lengths to make the entire process for you as easy as we can. You can even close the loan from your mobile phone (message and data rates may apply). We can't wait to help you get started!