Purchase Loans
Whether you are a first-time buyer or an experienced homeowner, the right mortgage makes all the difference. Explore loan programs tailored to your goals, budget, and timeline.
Understanding Your Purchase Loan Options
Every home purchase is unique. The right loan program depends on your financial profile, the property type, and your long-term plans.
A purchase loan is a mortgage used to finance the acquisition of a residential property. As your mortgage broker, I work with a wide network of lenders to find the most competitive rates and terms available for your situation. Rather than being limited to the products of a single bank, I compare offers from multiple sources to help you secure the best possible financing.
Below you will find the three most common purchase loan programs. Each has distinct eligibility requirements, down payment thresholds, and cost structures. I will guide you through every step, from pre-approval through closing, ensuring you understand your options and feel confident in your decision.
Conventional Loans
Most PopularConventional loans are not backed by a government agency, making them ideal for borrowers with solid credit and steady income. They offer flexibility in terms, competitive rates, and the ability to remove private mortgage insurance once you reach 20% equity.
- Credit Score 620 minimum (higher scores unlock better rates)
- Down Payment As low as 3% for qualified borrowers; 5%–20% is standard
- PMI Required below 20% down; removable once equity reaches 20%
- Loan Limits Conforming limits apply (2025: $806,500; higher in high-cost areas)
- Best For Borrowers with good credit who want long-term flexibility and competitive terms
FHA Loans
Lower Barrier to EntryBacked by the Federal Housing Administration, FHA loans are designed to make homeownership accessible for borrowers with lower credit scores or limited savings. More lenient qualification standards and lower down payment requirements make this a strong choice for many first-time buyers.
- Credit Score 580+ for 3.5% down; 500–579 with 10% down
- Down Payment As low as 3.5% (gift funds allowed from family or approved sources)
- MIP Upfront MIP (1.75% of loan) plus annual MIP for the life of the loan in most cases
- Loan Limits County-specific FHA limits (2025: $524,225 floor; higher in high-cost areas)
- Best For First-time buyers, borrowers rebuilding credit, or those with limited down payment funds
VA Loans
Military & VeteransGuaranteed by the U.S. Department of Veterans Affairs, VA loans provide exceptional benefits to eligible service members, veterans, and surviving spouses. With no down payment and no private mortgage insurance, VA loans are among the most favorable financing options available.
- Credit Score No VA-mandated minimum (most lenders require 580–620)
- Down Payment 0% down payment required for eligible borrowers
- PMI No private mortgage insurance required; VA funding fee applies (may be waived for certain veterans)
- Loan Limits No loan limit for borrowers with full entitlement
- Best For Active-duty military, veterans, National Guard, Reserves, and eligible surviving spouses
Key Benefits of Working With a Broker
A mortgage broker acts as your advocate, comparing options from multiple lenders to find the right fit for your purchase.
Access to Multiple Lenders
Instead of being limited to one bank's products, I shop your loan across a network of wholesale lenders to find the most competitive rate and terms.
Competitive Rates
Wholesale lending channels often offer rates below what retail banks provide directly to consumers, which can save thousands over the life of your loan.
Personalized Guidance
From selecting the right loan program to navigating the closing process, you receive one-on-one support from an experienced, licensed professional.
Streamlined Process
Modern technology and clear communication keep your transaction on schedule. Expect timely updates and a smooth path from application to keys in hand.
Pre-Approval Strength
A thorough pre-approval letter signals to sellers and agents that you are a serious, qualified buyer, giving you a competitive edge in the market.
Transparent Communication
No hidden fees or surprises. I break down every cost, explain every document, and make sure you understand each step before moving forward.
Who Is This For?
Purchase loans serve a wide range of borrowers. If any of the following apply to you, I can help you find the right program.
First-time homebuyers entering the market
Move-up buyers upgrading to a larger home
Veterans and active-duty service members
Self-employed borrowers with non-traditional income
Families relocating for work or personal reasons
Buyers looking to build equity instead of renting
Ready to Start Your Home Purchase?
Take the first step toward homeownership. Apply online to get pre-approved, or schedule a free consultation to discuss your options with no obligation.
Estimate Your Monthly Payment
Use our free mortgage calculators to estimate payments, see how much home you can afford, and compare loan scenarios side by side.