Home Purchase Loans for Buyers Comparing Mortgage Options
Choose the Home First, Then Compare the Mortgage Path
Home Purchase Loan Programs We Can Compare
FHA Loans
Government-insured financing that can offer flexible qualification paths for eligible owner-occupant buyers.
Conventional Loans
Flexible conforming and conventional financing for eligible primary residences, second homes, and investment properties.
VA Loans
VA-backed mortgage options for eligible veterans, service members, and qualifying surviving spouses.
USDA Loans
USDA-backed financing for eligible buyers and properties in qualifying rural and suburban areas.
Jumbo Loans
Financing for eligible higher-value purchases when the required loan amount exceeds applicable conforming limits.
Non-QM & Alternative Income
Alternative qualification approaches may help eligible self-employed borrowers, 1099 earners, investors, and other borrowers whose finances do not fit traditional underwriting.
From Buying Power to Mortgage Pre-Approval and Closing
1. Establish your buying power. Review a comfortable monthly payment, estimated cash to close, income, debts, credit, and available funds.
2. Compare purchase mortgage programs. Evaluate FHA, conventional, VA, USDA, jumbo, and eligible alternative-income options based on the borrower and property.
3. Prepare for mortgage pre-approval. Documentation and underwriting requirements vary by loan program and income type.
4. Shop with a financing plan. A realistic mortgage range can help focus the home search and improve offer planning.
5. Coordinate appraisal, title, insurance, underwriting, and closing. The loan process continues alongside the purchase contract until final closing requirements are satisfied.
First-Time Homebuyers & Down Payment Assistance
First-time buyers often need more than a product list. Understanding cash needed, credit, monthly housing costs, seller contributions, mortgage insurance, assistance programs, and the purchase timeline can make the process easier to navigate.
Start with our down payment assistance programs guide for a general explanation of DPA structures. Florida buyers can review first-time homebuyer programs. Jacksonville and Northeast Florida buyers can explore down payment assistance, and eligible workforce buyers can review the Florida Hometown Heroes Program.
Home Purchase Loan & Mortgage Questions
What is a home purchase loan?
A home purchase loan is mortgage financing used to buy a property rather than refinance an existing mortgage. The available structure depends on the borrower, property, occupancy, loan amount, and program.
Which mortgage program is best for buying a home?
There is no single best program for every buyer. FHA, VA, USDA, conventional, jumbo, and alternative-income programs use different eligibility rules, costs, and trade-offs.
Should I get mortgage pre-approved before shopping?
Reviewing financing before making an offer can help establish a realistic price range, identify documentation needs, and clarify which purchase programs may fit.
How much money do I need to buy?
Cash needed can include down payment, closing costs, prepaid expenses, reserves when required, and other transaction costs. Assistance or seller contributions may be available in some scenarios.
How much house can I afford?
Affordability depends on income, debts, credit, taxes, insurance, mortgage insurance when applicable, association costs, available funds, and the payment level you are comfortable carrying. Use our home affordability calculator as a starting point.
Can self-employed buyers qualify?
Potentially. Traditional documentation, bank-statement, 1099, Non-QM, and other approaches may be evaluated depending on the financial profile and lender guidelines.