FHA
A government-backed loan that many first-time buyers and buyers with modest credit use. A lender can tell you whether this program may fit.
Home Financing
Financing Made Simple
Getting pre-approved before you shop can make your offer stronger. A pre-approval letter shows sellers you are a serious buyer, and it helps you look at homes with a clearer budget.
Common loan types
VA
A loan program for eligible veterans, active-duty service members, and some surviving spouses. Ask a lender about eligibility.
USDA
A loan program for eligible buyers purchasing in many rural and some suburban areas. A lender can confirm whether you and the property may qualify.
Conventional
A loan that is not backed by a government agency. Terms depend on the lender, the property, and the borrower.
Questions worth asking your lender
- Ask about loan programs with little or no money down, like VA and USDA, if you qualify.
- Ask your lender whether they offer a rate float-down if rates drop before closing.
A float-down is a feature some lenders offer that lets you keep a locked rate, then switch to a lower one if rates fall before you close.
- Ask whether there's an application or credit report fee.
Rate lock vs. float
Rate lock
A rate lock means your lender holds an agreed rate for a set period while you finish the purchase. If rates go up during that period, your locked rate stays the same.
Float
If you float, you have not locked a rate yet. The rate can still change until you and your lender agree to lock it.
Estimate your monthly payment
National average 30-yr fixed: 7.11% (Freddie Mac, week of November 12, 2026). See the Freddie Mac PMMS release.
Enter a home price to see an estimated monthly payment. The interest rate starts at the national average above. You can change any number.
Estimates only. Your actual rate and payment depend on your lender, credit, and loan program.