Questions about home financing?
We can help!
Lots of homebuyers have questions about mortgages. You're not alone! After all, buying a home is one of the largest financial decisions that you'll ever make, so it's important to get all your questions answered before going through with this process! And we're happy to answer any questions you might have!
Learn More About Mortgages
We know buying a home is no small decision. It's one of the largest purchases you'll make in your lifetime, and it can seem overwhelming to think about all that goes into selecting which loan option might be best for you. But don't worry, we can help customize your financing plan to meet what works best for you - just contact our team today!
Want to learn a little more about your options? Here are a few of the most popular types of mortgages. And remember, you can always contact us with any questions!
Conventional loan
- Good for buyers with solid credit, low debt, and moderate to high income
- Requires a 10% to 20% down payment
- Typically lasts between 15 to 30 years
- Stricter credit and income requirements
FHA loan
- Targeted towards lower- to moderate-income buyers with lower credit scores
- Down payments as low as 3.5%
- Private mortgage insurance (PMI) required
- Can have higher interest rates
VA loan
- Available to most active, retired, and veteran military personnel and their spouses
- Backed by the VA and financed by approved lenders
- Little to no down payment without private mortgage insurance (PMI)
- May require a one-time funding fee
USDA loan
- Targeted towards buyers with a low to moderate steady income
- Little to no down payment required
- Private mortgage insurance (PMI) required
- Check the USDA availability map for eligibility
Balloon mortgage
- Payments are based on a 30-year term, but the loan lasts for 5 to 7 years
- At the end of the term, the borrower must pay off the balance, refinance, or sell
- A good option for commercial properties or buyers who plan to move within a few years
Lender-specialty loans
- Available to first-time buyers, lower-income buyers, or other niche groups
- Can offer lower interest rates, payments, and qualification requirements
Ready to Calculate Your Monthly Payments?
Now that we've gotten familiar with common types of home loans, it's time make some calculations. Use our mortgage calculator to see your estimated monthly payment at various price points. And if you get stuck, just contact us and we will be happy to help!
