Buy a home
Plan your purchase. Know the full cost.
Compare the home price with the complete monthly payment, cash to close, and the reserves you will have after closing. Loan programs can divide those costs differently, so use the same home, down payment, and borrower facts when you compare written scenarios.
The budget comes before the home
Set a comfortable buying budget.
Compare the home price with the complete monthly payment, cash to close, and the reserves that remain after closing.
- Principal, interest, taxes and insurance
- Mortgage insurance and association costs
- Closing funds, moving costs and repairs
- Room for maintenance and changing expenses
Estimate your buying range.Compare income, debts, available cash, taxes, insurance, and your target payment.Estimate my range→Compare the same home
Compare loan options.
Keep the property, down payment, and timeline consistent so each loan structure receives a fair comparison.
ConventionalFlexible structures for qualified borrowers→
FHAProgram-specific insurance and property rules→
VABenefits for eligible military borrowers→
USDAEligibility tied to borrower and property→
JumboLarger balances with distinct requirements→
Prepare the file
Prepare your documents early.
- 01Organize the borrower factsIncome, employment, assets, debts, credit and the source of closing funds.
- 02Connect the propertyAppraisal, title, insurance, occupancy and property condition still matter.
- 03Protect the timelineCoordinate financing dates with the contract and plan for conditions or delays.
Before closing day
Review the final numbers.
Questions worth asking
Pressure-test the decision.
Does a preapproval guarantee that the purchase will close?
No. It is an early lender assessment. Final approval still depends on underwriting, updated borrower information, the property, appraisal, title, insurance, and satisfaction of loan conditions.
Should I choose the option with the lowest monthly payment?
Not by itself. Compare cash to close, APR, points, insurance, loan term, total borrowing cost, reserves, and how long you may keep the loan.