Loans
Understanding Loan Types
Every buyer is different - and so are loan types.
Here's a quick overview:
Here's a quick overview:
Conventional Loans
Ideal for borrowers with good credit and a stable income.
FHA Loans
Backed by the Federal Housing Administration, perfect for first-time buyers with lower down payments.
VA Loans
Available to eligible military service members and veterans — no down payment required in most cases.
USDA Loans
Great for buyers in rural areas. Often requires no down payment.
Fixed vs. Adjustable Rate (ARM)
Fixed rates stay the same; ARMs may fluctuate after an initial period.
Why Get
Preapproved?
Getting preapproved is a smart first move. It tells sellers you’re serious — and helps you shop with confidence.
Benefits of preapproval:
- Know how much you can afford
- Estimate your monthly payments
- Understand your loan options
- Strengthen your offer to sellers
What you’ll need:
- Income verification (W-2s, pay stubs)
- Credit history
- Asset details (bank statements)
- Basic personal and employment information