When you are not paying cash for a home, there are many loan options to choose from. Some of those options, such as an FHA, VA, or USDA loan, will have terms and interest rates that are pretty much the same no matter which lender you go with. However, there are conventional loans and lender specific loans where the terms, down payment necessary, and interest rate will vary from lender to lender. It is a good idea to speak with your realtor if you haven't obtained financing because based on your credit, the amount of money you have to work with, and what type of home you are looking for, they can pair you with a lender that would best suit you and provide you with a loan that will enable you to purchase your home with confidence!
If you really want a good idea of what home financing could look like for you, I highly suggest you take a look at the Home Loan Toolkit. If you need help with it, I am happy to walk you through it and provide you with lender options based on your needs. I know for me, when I see stuff like this I go nuts! I love workbooks and numbers! Others, not so much. So if you are not a numbers person, don't worry. I can explain it to you in a simplified way. Especially if it's your first time purchasing a home. I'll take you through it step by step and together we will get you there!
