Financing Your Home
Make your move with confidence.
Understanding your financing options is the first step to homeownership. Whether you are a first-time buyer or an experienced investor, the right mortgage makes all the difference.
The Process
How home financing works.
Securing a mortgage is one of the most important steps in buying a home. It determines what you can afford, your monthly payment, and the overall cost of your home over time. Understanding the process helps you make informed decisions and positions you as a strong buyer when you find the right property.
The process begins with pre-approval, where a lender reviews your financial profile to determine how much you can borrow. From there, you compare loan options, lock in a rate, and move through underwriting to closing. Each step has a clear purpose, and with the right guidance, the process is straightforward and rewarding.
Step 1
Pre-Approval
Get pre-approved to understand your budget and show sellers you are serious.
Step 2
Loan Selection
Choose the loan type and term that fits your financial goals.
Step 3
Rate Lock & Underwriting
Lock your interest rate while the lender verifies your financial details.
Step 4
Closing
Sign the documents, transfer funds, and receive the keys to your new home.
Calculator
Estimate your monthly payment.
20% down
Estimated Monthly Payment
$6,400
Principal & Interest
$6,400
Down Payment
$222,990
Loan Amount
$891,960
This is an estimate only. Does not include taxes, insurance, or HOA fees. Contact Travis Olson for a personalized quote.
Rates
Current market rates.
Mortgage rates change daily based on market conditions. The table below reflects recent rate trends for reference. For a personalized rate quote, reach out to Travis Olson.
| Loan Type | 30-Year Fixed | 15-Year Fixed | ARM (5/1) |
|---|---|---|---|
| Conventional | 6.500% | 5.875% | 6.250% |
| FHA | 6.375% | 5.750% | 6.125% |
| VA | 6.000% | 5.375% | 5.750% |
Rates are subject to change. Contact Travis Olson for the latest.
Loan Programs
Understanding your loan options.
Different loan types serve different needs. Here is a quick overview of the most common mortgage programs available to homebuyers.
Fixed-Rate
The most popular mortgage type. Your interest rate stays the same for the entire loan term, providing predictable monthly payments. Available in 15, 20, and 30-year terms.
Adjustable-Rate (ARM)
Starts with a lower introductory rate that adjusts after a set period (typically 5, 7, or 10 years). A good option if you plan to sell or refinance before the adjustment period.
FHA Loan
Insured by the Federal Housing Administration. Requires a lower down payment (as low as 3.5%) and has more flexible credit requirements. Ideal for first-time homebuyers.
VA Loan
Available to eligible veterans, active-duty service members, and surviving spouses. Offers zero down payment, no PMI, and competitive interest rates. Backed by the Department of Veterans Affairs.
Conventional Loan
Not insured by the government. Requires a higher credit score and typically 5% to 20% down. Conforming loans meet Fannie Mae and Freddie Mac limits; jumbo loans exceed them.
Which is right for you?
The best loan depends on your financial profile, how long you plan to stay in the home, and your long-term goals. Travis Olson can help you compare options side by side.
Your Next Step
Ready to explore your financing options?
Travis Olson is your trusted mortgage professional. Reach out for a personalized rate quote, pre-approval, or to discuss which loan program fits your goals.
Contact Travis Olson to Get Pre-ApprovedTravis Olson · Your trusted mortgage partner