Home Purchase
Financing for buying a home — from your first home to your forever home.
A purchase mortgage is the loan you use to buy a home. You put some money down, a lender covers the rest, and you repay it in monthly installments over a set term — most commonly 15 or 30 years. The right program depends on your down payment, credit, and the kind of home you're buying.
How it works
Down payments start lower than you might think
Conventional loans can allow as little as 3% down and FHA loans 3.5%, while VA and USDA loans can be 0% down for those who qualify. Putting 20% down isn't required — it mainly lets you skip mortgage insurance.
Fixed or adjustable rate
A fixed-rate loan keeps the same principal-and-interest payment for the life of the loan. An adjustable-rate mortgage (ARM) usually starts lower but can change later. Which fits best depends on how long you plan to stay in the home.
First-time buyer help exists
If you haven't owned a principal residence in the last 3 years, you may count as a first-time homebuyer — which can unlock special programs, grants, and down-payment assistance.
A good fit if you're…
- Buying your first home
- Moving up, downsizing, or relocating
- Buying a second or vacation home
This page is educational and doesn't constitute financial advice or a loan offer. Honest Loans is a lead-generation service, not a lender — program availability, rates, and terms come solely from independent lending partners and are subject to their approval and requirements.
Explore other loan programs
Refinance
Lower your rate, shorten your term, or switch loan types with rate-and-term refinancing.
VA Loans
$0-down purchase, VA Streamline (IRRRL), and VA Cash-Out options for those who served.
Home Equity / HELOC
Tap your equity for renovations, debt consolidation, or major expenses.
Reverse Mortgage (HECM)
For homeowners 62+: convert home equity into cash with no required monthly mortgage payment.
Self-Employed
Bank-statement and alternative-documentation loans built for business owners.
Investor / DSCR
DSCR and investment-property financing that qualifies on the property's cash flow.