Whether a new home is a few years off or you’re shopping
now, we can help you understand your options and get the right mortgage for
your situation.
I’m Wondering How It Works
Our Home Buyer’s Guide takes the mystery out of getting your
first home loan. We break down the process so it’s less overwhelming and easier
to understand.
Find Out How Buying a Home Works
I’m Putting Together a Budget
Our calculators help you estimate what you can afford, how
much of a down payment you’ll need, what your monthly payment could be, and how
much interest you’ll pay over the life of a loan.
Calculate How Much I Can Afford
Calculate My Mortgage Payments
I’m Actively Shopping for a New Home
If a move is in your near future, these are the two most
important things you should do first. They’ll put you in the hands of experts
who help people like you become a homeowner for the first time every day.
First, get approved for a loan. Doing this before looking at
houses helps you a lot. Here are some of the benefits:
You’ll get an approval letter that shows real estate agents
and sellers you’re able to afford a house.
You’ll find out how much house you can afford.
You can lock your rate for up to 90 days with RateShieldTM
Approval| |.
It makes the rest of the mortgage process smoother and
easier.
Apply now with Rocket Mortgage.
Learn what happens when you apply.
Next, find a real estate agent. After you apply and get
approved, choose a real estate agent. They’re another great source of
experience and knowledge when it comes to how to buy a home. You can expect
your agent to do these things:
Help you find the right house in the right place at the
right price.
Manage paperwork.
Negotiate with sellers.
With an approval letter and listings from your agent, you’ll
be ready to start hitting those open houses.
Popular Loans Options for First-Time Home Buyers
Here are some common situations that often apply to people
getting their first home loan, and possible options. You may qualify for more
than one; we’ll help you find what’s best for you.
Want payment and interest rate stability? With a 30-Year
Fixed, your interest rate and monthly payments (before taxes and insurance)
won’t change, and you can buy a home with as little as 3% down.
Don’t have a lot of credit history, or worried it’s not good
enough? FHA loans have more lenient credit and income requirements, and your
down payment can be as low as 3.5%.
Think you’ll only be in a starter home for a few years? An
adjustable rate mortgage gives you a low fixed interest rate – which means
lower monthly payments – for the first few years of your mortgage.
Are you a veteran or currently serving? You may qualify for
a VA Loan and be able to buy a home with zero down.
Why We’re America’s Largest Mortgage Lender
The answer is simple: it’s because of you. You’ve told us
what you need and how you want to get a mortgage, and we’ve listened. Here are
just a few of the things we do for you:
Provide a completely online application supported by real
people when you need them.
We service 99% of our mortgages, so our great customer
service continues after you close.
We don’t charge you to make your mortgage payments online.
You can pay off your mortgage ahead of time with no
penalties.
RateShield Approval locks your initial interest rate for up
to 90 days on 30-year conventional, FHA and VA fixed-rate purchase loan
products. Your exact interest rate will depend on the date you lock your rate.
Once you submit your signed purchase agreement, we’ll compare your rate to our
published rates for that date and re-lock your interest rate at the lower of
the two rates for an additional 40 to 60 days. Quicken Loans reserves the right
to cancel this offer at any time. Acceptance of this offer constitutes the
acceptance of these terms and conditions, which are subject to change at the
sole discretion of Quicken Loans. This is not a commitment to lend. Additional
conditions or exclusions may apply.
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