Mortgage Information

Step 1: Get Pre-Approved

Before you start touring homes, it's worth speaking with a lender to get pre-approved. A lender will review your income, credit and debts to tell you how much you can realistically borrow — and give you a pre-approval letter that shows sellers you're a serious, qualified buyer.

Common Types of Home Loans

There are several loan programs available, and the right one depends on your finances, credit history and the type of property you want to buy.

• Conventional loans — typically require a higher credit score, with down payments as low as 3–5%.
• FHA loans — backed by the Federal Housing Administration, popular with first-time buyers due to lower down payment and credit requirements.
• VA loans — available to eligible veterans and active-duty service members, often with no down payment required.
• USDA loans — for eligible rural and suburban properties, with no down payment required for qualified buyers.

Down Payment & Closing Costs

Your down payment is the portion of the purchase price you pay upfront — the rest is financed through your loan. In addition to the down payment, plan for closing costs, which typically run 2–5% of the purchase price and cover items such as the appraisal, title insurance, lender fees and prepaid taxes and insurance.

From Offer to Closing Day

Once your offer is accepted, your lender will order an appraisal and finalize underwriting while you complete inspections and review the title work. On closing day, yousign the final loan documents, pay your down payment and closing costs, and receive the keys to your new home.

Talk to a Lender

Every situation is different, and a licensed mortgage lender can walk you through current rates, programs and what you'll qualify for. If you'd like a referral to a trusted local lender, reach out and we'll be happy to connect you.