Real Mortgage Guides That Lenders Hope You Never See.

Buying your first home or tapping into your current one-we’ll help you find the right loan without the runaround.

Mortgage Guides from Homeownership Hub®

30-year fixed

Enjoy lower, consistent monthly payments for stable long-term budgeting. Most popular loan option.

Good to Know

  • Lower monthly cost
  • Payment never changes
  • Pays more interest

15-year fixed

Own your home sooner and save thousands in interest. Higher payments build equity much faster.

Good to Know

  • Save on interest
  • Debt-free faster
  • Higher monthly cost

Home Equity Loan

Access your home’s built-up value as cash. Fixed rates and payments offer borrowing stability.

Good to Know

  • Fund major projects
  • Predictable payments
  • Home is collateral

HomeReady®

Makes homeownership more attainable with low down payments for eligible moderate-income buyers.

Good to Know

  • Very low down payment
  • Reduced PMI possible
  • Strict income limits

FHA Loan

Government-backed loan ideal for smaller down payments and more flexible credit requirements.

Good to Know

  • Easier qualification
  • Low cash to close
  • MIP often for life

VA Loan

Exclusive benefit for military members, veterans, and spouses. Often no down payment needed.

Good to Know

  • Zero down payment
  • No PMI typically
  • VA funding fee

USDA Loan

Makes homeownership more attainable with low down payments for eligible moderate-income buyers.

Good to Know

  • 100% financing
  • Low interest rates
  • Property must qualify

Adjustable-Rate

Offers a lower initial fixed rate, then adjusts periodically. Plan for payment changes.

Good to Know

  • Lower starting rate
  • Short-term savings
  • Payment can rise

Jumbo Loan

For loan amounts that exceed conforming limits, financing higher-value homes. Stricter terms apply.

Good to Know

  • Buy pricier homes
  • Fixed or ARM
  • Higher cash reserves

Pesonalize your loan options​

In under a minute, answer 4 quick questions to see which loans might best fit your goals. No commitment, no pressure.

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Frequently asked questions.

You asked about home loans. We listened. Here are answers based on research from fellow homebuyers, like you.

Choosing the best type of home loan, or mortgage, involves matching your financial situation to loan requirements. FHA loans are popular for first-time buyers due to lower down payments and credit score flexibility, while Conventional loans might offer better terms if you have a strong credit history and larger down payment. Consider consulting with a mortgage professional to explore all your property loan options.

A home loan pre-approval gives you a strong borrowing estimate, but it’s not a final loan commitment; the property itself must also meet the lender’s criteria through an appraisal. Many first-time buyers are surprised that a pre-approval is conditional and that significant financial changes, like a new car loan, can jeopardize their final mortgage approval. Always communicate with your lender before making big financial decisions after pre-approval.

Key steps to prepare for a home loan application include boosting your credit score, saving for a down payment and closing costs, and reducing existing debt. Gather all necessary financial documents like recent pay stubs, bank statements for the last few months, and tax returns for the past two years. Being organized will streamline your mortgage approval process.

Emotionally prepare for your new home loan by expecting a period of adjustment as you get used to new expenses and responsibilities beyond the mortgage payment, like potential repairs or higher utility bills. Financially, try to build a robust emergency fund after closing, specifically for unexpected homeownership costs, not just general savings. This proactive approach to your housing loan helps reduce stress and ensures you enjoy your new home.

Understanding all costs for your home loan means looking beyond the down payment to include closing costs, which cover lender fees, appraisal, title search, and more. You’ll also have prepaid items like property taxes and homeowners insurance. Carefully review the Loan Estimate (LE) document your lender provides, as it details these various property loan expenses..

The importance of a stable income for securing a home loan is that lenders need assurance you can consistently make monthly mortgage payments. They will typically verify at least two years of employment history, looking for steady earnings rather than sporadic or unpredictable income. This predictability is a key factor in their risk assessment for your housing loan.

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