Purchase

Buying a new home is exciting. But it’s also a complex process with lots of steps involved. That’s why it’s important to find a reliable and trustworthy partner to guide you every step of the way … a partner like ESL.

Maybe you’re looking for person-to-person assistance with the mortgage selection and purchase process. Or maybe you want to get a fast preapproval to prove to sellers and realtors that you’re ready to buy. Either way, you can count on ESL to help you take that big next step toward buying your new home.

  • Purchasing 101

    Whether you’re an experienced homebuyer or about to get your first mortgage, it’s important to understand how the home-buying and mortgage process works.

    Here’s a quick overview:

    Find the right mortgage and mortgage partner

    These days, there are a lot of ways to get a mortgage. And you can expand your options by searching online.

    But it’s important to remember that all lenders are not created equal. So let us briefly mention a few of the things that set us apart.

    • We’re here for you. 100%. When you apply for your mortgage with ESL, you can count on guidance from an experienced mortgage team based right here in Greater Rochester. As you’ll soon discover, we understand the local real estate market. And we know how to get things done right here in our home.
    • Award-winning service, from start to finish. From answering your initial questions to watching with pride as you sign your closing documents, we will guide you through the entire purchasing and mortgage process. 
    • And here’s something else you’ll appreciate. Customer service. We take it seriously; so when you have a question or want to make a payment, there's a friendly, knowledgeable ESL representative available to help.

    Bottom line? We’re not just a lender. We’re your partner, guide, and personal assistant in the mortgage and home-buying process.

    Understand the five basic steps involved in getting a mortgage at ESL

    Ever since we first opened our doors more than 90 years ago, we’ve been helping people in Greater Rochester buy homes. And we’ve used all of that experience to simplify the mortgage process into five basic steps:

    1. Evaluate Solutions: We help you explore your mortgage options to find the one that’s right for you.
    2. Apply: We guide you through the application. And help you gather all the information you need.
    3. Approval: We go out of our way to make the process move smoothly. We also work with you to resolve any problems that could cause a delay.
    4. Closing Process: We help you and your attorney finalize all the closing details. We schedule the closing date. And we make sure you bring all the necessary documents to your closing.
    5. After Closing Support: After you take possession of your new home, you’ll get all the information, answers, and assistance you need for your mortgage from a friendly, helpful ESL Loan Service Representative.

    For more information on the mortgage process, see our helpful guide: Steps to Get an ESL Mortgage.

     
  • Preapproval

    Preapproval is a great option in the home-buying process.

    When you get an official preapproval letter from your lender, you can prove to sellers that you are serious about purchasing their home. In other words, it’s a clear sign that you’re ready to buy.

    In fact, some sellers actually require that you provide a preapproval letter from your lender along with your purchase offer.

    Preapproval vs. Prequalification

    Preapproval is a more extensive process than prequalification.  We summarize the differences for you or you can look at our easy-to-read comparison chart.

    How to get an ESL Preapproval Letter

    To get a preapproval letter from ESL, you will need to contact a member of our Mortgage Team and provide information so we may evaluate your credit and discuss your loan options.

    Your preapproval letter will state you are preapproved for an ESL mortgage based on the information you provided and a review of your credit report. The letter will also contain some of your potential mortgage loan terms and conditions you are likely to qualify for when you complete a mortgage application with us.

    Once you receive your preapproval letter from ESL, you can provide a copy to the seller along with your purchase offer.

    Here are some important details to remember:

    • A preapproval is not a formal mortgage commitment, but includes loan terms and conditions that show sellers you’re serious.
    • There is no fee for this service.
     
  • More Information

    Here are some handy tools to guide you through the mortgage process:

    Call 585.336.1502 or 800.352.6669, x1502, to speak with a helpful member of our Mortgage Team today​. Or fill out this form,​ and we'll contact you at a time that's convenient for you.