Mortgage & Financing Information

Understanding your financing options is one of the most important steps in buying a home. Whether you’re purchasing your first home, moving up, or investing, being prepared financially sets you up for success—and peace of mind.

Why Financing Matters

Getting your finances in order early helps you:

• Know exactly what you can afford before you start shopping

• Strengthen your offer and stand out to sellers

• Avoid last-minute surprises or delays during closing

• Stay comfortably within your budget and plan for the future

Get Pre-Approved Before You Shop

Before you start touring homes, it’s smart to get pre-approved by a lender. This process looks at your income, credit, and debts to determine your borrowing power.

Benefits of Pre-Approval:

• Shows sellers you’re a serious, qualified buyer

• Helps focus your search on homes within your price range

• Speeds up the process once you find the right home

Need guidance? I work with trusted local lenders who can explain your options and help you choose what fits your goals best.

Common Loan Options

Not all mortgages are created equal—here’s a quick overview of popular loan types:

• Conventional Loans – Great for buyers with solid credit and income; typically require 5–20% down.

• FHA Loans – Designed for first-time or lower-credit buyers, with down payments as low as 3.5%.

• VA Loans – For qualified veterans, active-duty service members, and spouses; offer zero down and no PMI.

• USDA Loans – Available for eligible rural or suburban homes; offer 100% financing with favorable terms.

• Jumbo Loans – For high-value properties above standard loan limits.

• Adjustable-Rate Mortgages (ARMs) – Start with a lower rate that adjusts over time; ideal for shorter-term ownership plans.

Down Payments & Closing Costs

Your down payment will vary based on your loan type and financial profile, ranging from 0% to 20% or more. Don’t forget to plan for:

• Closing costs: usually 2–5% of the purchase price

• Appraisal and inspection fees

• Title, escrow, and recording fees

• Prepaid taxes and homeowner’s insurance

Bottom line: getting your financing in place early not only helps you buy with confidence—it puts you in the best position to move fast when you find the one.