The Loan You
Choose Matters
The loan you choose shapes not just your monthly budget, but also your long-term financial security. At Loan Broker, we break down the options, explain the tradeoffs, and guide you toward the loan that supports your goals.
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Here’s an overview of the choices you’ll explore with your Loan Broker advisor
$ 1.210 / mo
4 bd | 3ba | 2,210 sqft
$ 2.080 / mo
4 bd | 3ba | 2,210 sqft
$ 2.080 / mo
4 bd | 3ba
What It Takes to Buy a Home
Buying a home comes with several important steps, and at Loan Broker, our role as your mortgage broker is to walk you through each one with clarity and confidence. We start with pre-qualification to help you understand what fits your budget, then guide you through the loan application with clear documentation and expectations. When the time is right, we help you lock in a rate that aligns with your goals and the current market. From there, our team manages loan processing and communicates closely during underwriting to address questions before they become obstacles. At closing, we make sure everything is prepared and explained, so you can focus on the excitement of becoming a homeowner rather than the paperwork.
Your Pathway to Buying
a Home
- Short-term loans: lower rates, less total interest paid, higher monthly payments.
- Short-term loans: higher overall interest, lower monthly payments, more time to pay off.
- Fixed-rate mortgage: steady payments, easier to budget long term.
- Adjustable-rate mortgage (ARM): rates may rise over time, better for short-term homeowners or those planning to refinance.
Loan Types
Your advisor will help you choose the loan that fits your goals and finances.
The most common loan option, ideal for borrowers with solid credit. These loans are not federally guaranteed and typically require at least a 620 credit score. Down payments start around 5%, and you can choose flexible repayment terms from 30 years down to shorter plans. Conventional loans give you access to a wide variety of homes without government restrictions and avoid extra program fees. Jumbo loans are a type of conventional loan designed for higher-priced properties.
- Not federally guaranteed
- Typically requires a 620+ credit score
- Down payment starts around 5%
- Flexible terms (30 to 5 years)
- No government program fees
- Two main categories: standard conventional and jumbo loans
Best for buyers with limited savings. Ideal for first-time buyers or those with limited savings. FHA loans allow for smaller down payments and offer more flexible credit requirements. Because they are backed by the Federal Housing Administration, lenders can extend financing to borrowers who might not qualify for a conventional loan. FHA programs can make homeownership possible when savings or credit history are barriers.
- Low down payment requirements
- Easier credit qualifications
- Backed by the Federal Housing Administration
Exclusive to veterans and active service members. Ideal for first-time buyers or those with limited savings. FHA loans allow for smaller down payments and offer more flexible credit requirements. Because they are backed by the Federal Housing Administration, lenders can extend financing to borrowers who might not qualify for a conventional loan. FHA programs can make homeownership possible when savings or credit history are barriers.
- No down payment (in most cases)
- No private mortgage insurance (PMI)
- Competitive rates and flexible terms
Use your home equity to consolidate debt or access cash.
A refinancing option that lets you access your home equity. With a cash-out refinance, you replace your existing mortgage with a larger one and receive the difference in cash. Many homeowners use this for debt consolidation, home improvements, or major expenses. It can be a smart way to put your home equity to work while restructuring your loan.
- Replaces your existing mortgage with a larger one
- The difference comes to you in cash
- Useful for debt payoff, home improvements, or major expenses
Designed for homes that exceed standard loan limits.
Jumbo loans come with stricter credit and income requirements and often require larger down payments. They are best for buyers looking at high-value properties who want more financing flexibility.
- Designed for higher-value homes.
- Exceeds conforming loan limits
- Stricter credit and income requirements
- Often paired with larger down payments
These loans can help reduce monthly payments or interest rates for borrowers with high debt-to-income ratios, less-than-perfect credit, or recent financial challenges. Because terms vary widely by lender, they’re best explored in detail with your Loan Broker advisor.
Flexible programs for unique situations.
- Tailored to reduce monthly payments or interest rate
- May help borrowers with high debt-to-income ratios or recent credit challenges
- Varies by lender — best discussed with your Loan Broker advisor