#1 – Understanding Mortgages
Whether you're buying your first home or your fifth, navigating mortgage options can be overwhelming. We're here to simplify the process so you can make informed, confident decisions. Let’s start with the basics.
#2 - First, Determine How You'll Pay Interest
Fixed-rate mortgage
Lock in a stable interest rate for the life of your loan. Your monthly principal and interest payments remain the same—great for long-term budgeting and peace of mind.
Adjustable-rate mortgage (ARM)
Enjoy a lower initial rate for a set period, followed by periodic adjustments. Ideal if you plan to sell or refinance before the rate adjusts.
Two-step mortgage
A hybrid of fixed and adjustable. Get a fixed rate for the first few years, then a one-time adjustment. It’s a balanced option with potential for savings and predictability.
#3 - Next, Choose Your Loan Type
Conventional loan
A popular choice not backed by the government. Offers competitive rates and flexible term options for qualified buyers.
USDA loan
A zero-down option for buyers in rural or suburban areas. Backed by the U.S. Department of Agriculture with attractive terms.
FHA loan
Designed for buyers with less-than-perfect credit or lower down payments. Government-backed and ideal for first-time buyers.
VA loan
Exclusive to veterans, active-duty service members, and eligible military spouses. Offers no down payment, no PMI, and favorable terms.
Balloon mortgage
Lower payments up front, with a large payment due at the end of the term. Best suited for short-term financing strategies.
Shared-appreciation Mortgage
Trade reduced monthly payments for a share of your home's future value. A creative option for select financial situations.
First-time buyer loans
Programs designed to help you break into the market—with features like low down payments, down payment assistance, and favorable rates.
Lender-specialty loans
Some lenders offer unique products tailored to your career, location, or financial goals. Let’s explore all your options.
#4 - Finally, Calculate Your Mortgage
Want to know what your monthly payments might look like? Use our quick and easy Mortgage Calculator to estimate your costs and plan your budget.