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Play around with the mortgage calculator below to get an idea! ⬇️⬇️
There are many loan types - Here are a few of the most common!
Conventional Loans: Ideal for buyers with a solid credit score and stable income. Typically require 3–20% down payment. Often viewed as the "gold standard" loan when out shopping so can help you!
FHA Loans: Perfect for those with lower credit scores or higher debt to income. 3.5% downpayment is typical
VA Loans: Available for eligible veterans and active military—often with no down payment required. Va loans do have a funding fee (ask lender and if you'd be exempt from it)
USDA Loans: For homes in rural areas, offering low-interest rates and zero down payment.
*Each loan has its own benefits and requirements, and the right choice depends on your financial situation and goals! I can connect you with trusted lenders to explore what works best for you.
Tips / Guidance
Check your credit score early & strive to improve it if it needs work—it can affect your interest rate. Keeping your utilization rate low helps a ton!
Save for a down payment, but know there are low-down payment options & always check for grants and programs to help!
Get pre-approved before house hunting—you'll need it for an offer.
Budget for inspections, closing costs, taxes, and homeowners insurance (taxes and insurance is often part of your total monthly payment)
Have questions about financing? I can connect you with trusted mortgage professionals and guide you through every step.
Play around with the mortgage calculator below to get an idea! ⬇️⬇️
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Kaeley Simek REALTOR®
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