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First Time Home Buyers

EDC Homes caters to the first-time home-buyer. From our inventory of pre-inspected homes to easy financing with Atlantic Bay Mortgage Group to our “no hassle” home warranty, we make the purchase and move-in process as easy as any other retail transaction. Just move your furniture in, plug things into the walls and enjoy!

We’re With You Every Step Of The Way

Purchasing a new home can be an overwhelming task. Atlantic Bay Mortgage Group believes that purchasing a home should an rewarding and hassle-free experience. Our team has made it simple by breaking down the approval process into six easy steps.

1. Pre-qualification

If you’re simply trying to figure out whether you can qualify for a mortgage then pre-qualification is generally the initial step of the mortgage process. Using credit, income, and asset information, lenders will make a determination as to which loan programs you are eligible for and how much you may be able to afford. The information provided is strictly for the borrower’s use and does not constitute loan approval.

2. Application

The first stage of the approval and loan application process involves the completion of a 1003 residential loan application. Once completed, the mortgage banker will request items needed to support the information provided on the application. These will include pay stubs, tax returns, W2 forms, bank, and various other items dependent on the particular application. A thorough application will prevent multiple requests for additional items. Upon receipt, your application and the requested documents are compiled and turned in to underwriting.

3. Underwriting

This is the initial stage of your approval process. All information gathered is reviewed. The underwriter verifies that the applicant meets all of the criteria of the loan program.

4. Approval

Once the underwriter has completed the analysis and determination of the borrower’s ability to purchase a home, an approval letter is issued.

5. Processing

The processing stage is where the items provided with the loan application are verified. Loan processors will verify employment, review bank statements, review credit history, and fulfill any conditions the underwriter needs to clear the loan for closing.

6. Closing

Closing is typically held at the title company where they confirm that all the funds have arrived and all conditions to the closing and transfer of title have been met. Congratulations, this is when you receive the keys to your New Home!

Let Us Take Out the Stress of the Home Buying Process

Let’s start with the basics and talk about the different types of Atlantic Bay loans you may qualify for even if you don’t have a large down payment.

FHA Loans

These loans are insured by the government and are designed to help creditworthy, low-income to moderate-income families that are unable to meet conventional underwriting guidelines. Some highlights include:

  • As little as 3.5% down payment required, as opposed to a 20% down payment with some conventional type loans
  • Ability to use money received as a gift can be used for a down payment and/or settlement costs Higher debt-to-income ratios

State Bond Program Loans

Several states offer bond programs that assist 1st time home buyers with down payment and closing cost assistance. Some highlights include:

  • Up to 100% financing
  • More liberal credit qualifying criteria
  • Low 30 year fixed interest rates



Discover The Advantages Of Working With Atlantic Bay

99.4% Customer Satisfaction

Doing right by our clients and business partners is Atlantic Bay’s top priority. Keeping this principle in place throughout the entire mortgage process has earned us a 99.4% customer satisfaction rating.

99.7% Closed By Contract Date

99.7% of all Atlantic Bay loans are closed on or before the contract date. By having a reputation for closing loans with speed and efficiency, we have been able to build better relationships with customers and professionals alike.

T.B.D Loan Underwriting

Unlike most mortgage companies, Atlantic Bay underwrites To Be Determined (TBD) files before the client has a property. This means the client can be fully approved prior to finding a property.

*Data is derived from internal metrics as of 09/2018.

Your Personal Mortgage Banker: Heather Todd

Buying a house is often one of the most stressful times in a person’s life. Heather’s experience in the industry and the area will make the mortgage process easy for you to understand. It is her goal to make the transition to home ownership as smooth as possible. You can always expect to be informed and to receive top-notch customer service. Whether you are a military family who is new to the area, a first-time homebuyer, buying your retirement home, or purchasing an investment property, Heather Todd will be here every step of the way making sure you are educated and updated on your loan application. She is experienced in VA, FHA, conventional, and jumbo loans and looks forward to helping you achieve the amazing goal of homeownership!

If you are buying your first home, your tenth home, an investment home, are new to the area, or are retiring, let Heather Todd walk side by side with you on your journey towards homeownership. She will be with you every step of the way!

For more information about the Pre-Closing, Closing and Post-Closing process, visit The EDC Experience page.



The featured lender has an affiliated business relationship with EDC Homes. You are under no obligation to use the featured lender for financing. If you have a brokerage relationship with another agency, this is not intended as a solicitation. This communication is provided to you for informational purposes only and should not be relied upon by you. EDC Homes is not a mortgage lender and so you should contact Atlantic Bay Mortgage Group, L.L.C. directly to learn more about its mortgage products and your eligibility for such products. Information deemed reliable but not guaranteed. All loans subject to income verification, credit approval and property appraisal. Not a commitment to lend. Atlantic Bay Mortgage Group, L.L.C. NMLS #72043 ( is an Equal Opportunity Lender. Located at 600 Lynnhaven Parkway Suite 203 Virginia Beach, VA 23452.