Buying a home, step by step
See what a home could cost each month and at closing, find the loan that fits, and get answers before you talk to a lender.
Calculators
Purchasing power estimator
See how much home you may be able to afford, using two planning scenarios.
Open calculator →Monthly payment
The full estimated monthly cost of a home: principal, interest, tax, insurance, HOA and mortgage insurance.
Open calculator →Rent vs. buy
Compare the total cost of renting with buying over the years you expect to stay.
Open calculator →Seller credit vs. price cut vs. rate buydown
Compare three ways to use the same amount of seller money: lower the price, cover closing costs, or buy down the rate.
Open calculator →Debt-to-income ratio
See what share of monthly income goes to housing and to all debts together.
Open calculator →Down payment comparison
See how the monthly payment and cash needed change at different down payment amounts.
Open calculator →Cash purchase vs. financing
Compare paying all cash with getting a loan: cash needed, interest paid, and cash kept free.
Open calculator →VA loan estimator
Estimate the monthly payment and VA funding fee on a VA-backed home purchase, with no monthly mortgage insurance.
Open calculator →Cash to close
Estimate the cash a buyer needs at closing: down payment, closing costs and prepaid items.
Open calculator →Points and rate comparison
Paying points can lower your rate but adds cost up front. See how many months it takes for the lower payment to make up that cost.
Open calculator →Amortization schedule
See every payment split into principal and interest, with the balance after each one.
Open calculator →Total cost of a loan
Add up principal, interest, points and closing costs to see what a loan costs in total.
Open calculator →Loan comparison
Compare two loans side by side: monthly payment, total interest, and when the lower-rate loan starts to save money.
Open calculator →Temporary rate buydown (2-1, 3-2-1)
See the payment in each early year of a temporary buydown and the total amount that has to be funded to cover the difference.
Open calculator →Assumable loan vs. a new loan
Compare taking over a seller's existing loan, with the cash needed to cover the gap, against getting a new loan at today's rate.
Open calculator →Loan guides
Conventional loans
A standard mortgage that is not insured or guaranteed by a government agency, including conforming and high-balance loans.
Read the guide →FHA loans
A mortgage insured by the Federal Housing Administration, often used by buyers with a smaller down payment.
Read the guide →VA loans
A VA-backed loan with no down payment for many buyers, and no monthly mortgage insurance.
Read the guide →USDA loans
A USDA-backed loan for eligible homes in eligible areas, with no down payment required.
Read the guide →Buying with a lower credit score
How credit scores affect a mortgage, how to check your reports, and what to ask a lender if your score is lower.
Read the guide →Self-employed and bank statement loans
Ways self-employed buyers can document income, including bank statements.
Read the guide →Jumbo loans
A mortgage larger than the conforming loan limit for the county.
Read the guide →Frequently asked questions
How much house can I afford?
It depends on your income, your monthly debts, your down payment, the interest rate, and the taxes and insurance on the home. Lenders look closely at your debt-to-income ratio. The estimator gives you a starting range, and a loan officer can review your real numbers. Try the purchasing power estimator →
How much do I need for a down payment?
It depends on the loan. Some programs allow a small down payment, and VA loans can mean no down payment for those who qualify. You will also need money for closing costs, which some sellers help with through a credit. Estimate your cash to close →
What's the difference between prequalification and preapproval?
Prequalification is an early estimate based on what you tell us. Preapproval goes further: a lender reviews your documents and, with your permission, your credit. Neither one is a commitment to lend, but a preapproval letter makes your offer stronger.
Will talking to you hurt my credit?
No. Asking questions and running the calculators never checks your credit. Your credit is pulled only with your permission, usually at preapproval.
What documents will I need?
Usually recent pay stubs, W-2s or tax returns, bank statements and a photo ID. Self-employed buyers often need more. We will send you a secure upload link, so please never send documents by email, text or WhatsApp.
Can I buy with a lower credit score?
Often there are options, and some programs are more flexible than others. Terms depend on the lender, the program and your full situation, and approval is not assured. The guide below explains how scores work and what to ask. Read the lower credit score guide →
What are closing costs?
Fees to get the loan and transfer the home, such as lender fees, title, appraisal, and prepaid taxes and insurance. Your Loan Estimate lists each one. A seller credit can cover some of them. Compare a seller credit with a price cut →
Talk with a loan officer
Free and no obligation. Sending your numbers doesn't check your credit. You'll get a reply from a licensed loan officer, not a call center.
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