Purchase
Find the perfect rate for your new home.
*Rates shown are illustrative and subject to change.
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Purchase Loans: Find the Right Mortgage for Your New Home
Compare purchase loan options and get matched with a lender who fits your needs.
Buying a home is one of the biggest financial decisions you'll make. Whether you're a first-time buyer or moving to your next home, we'll help you compare options and find a mortgage that works for your budget and timeline.
- Compare rates from multiple lenders
- Options for first-time and repeat buyers
- Conventional, VA, FHA, and specialty loan programs available
Purchase Loan Requirements
Requirements vary by loan type, but here are the basics most lenders look for:
- Proof of income and employment (pay stubs, W-2s, or tax returns)
- Acceptable credit score (varies by program — as low as 580 for FHA, typically 620+ for conventional)
- Down payment (ranges from 0% for VA to 3–20% for conventional)
- Debt-to-income ratio within lender guidelines (usually under 43–50%)
- Property appraisal meeting loan program standards
What Does a Purchase Loan Cost?
Costs vary depending on the loan type and your specific situation:
- Down payment — ranges from $0 (VA) to 3–20% of the purchase price
- Closing costs — typically 2–5% of the loan amount
- Private mortgage insurance (PMI) if putting less than 20% down on conventional loans
- Prepaid taxes and homeowners insurance
Benefits of Purchase
How to Apply
Answer a few questions
Tell us about your home purchase goals, budget, and timeline.
Get matched
We connect you with a lender who specializes in your loan type.
Close your loan
Work directly with your lender to finalize your mortgage and move in.
Frequently Asked Questions
It depends on the loan type. VA loans offer $0 down, FHA loans require as little as 3.5%, and conventional loans typically start at 3–5%. A larger down payment can mean a lower rate and no PMI.
Minimum scores vary by program: 580 for FHA with 3.5% down, 620 for most conventional loans, and no VA minimum (though most lenders want 620+). Higher scores generally get better rates.
From application to closing, most purchase loans take 30–45 days. Pre-approval can happen in as little as 1–2 days.
Yes. Pre-approval shows sellers you're a serious buyer and gives you a clear picture of your budget. Most real estate agents recommend it before starting your search.
Ready to get started?
Apply in under 2 minutes and get connected with a purchase specialist.
Start Your Application