Types of Loans

Conventional Loans: – The most common choice, often requiring a higher credit score and down payment.
FHA Loans:Ideal for first-time buyers; government-backed with lower down payment options and flexible credit requirements.
VA Loans:For veterans and active-duty service members; competitive rates and may require no down payment.
Adjustable-Rate vs. Fixed-Rate:Adjustable rates can start lower but change over time, while fixed rates offer stability throughout the loan.

Down Payment Options: What to Expect

Conventional loans typically require 3–20%
FHA loans can go as low as 3.5%
VA loans may require 0% down

Saving for a down payment is often the first step. There are also assistance programs to explore if you need a boost.

Documents You’ll Need to Be Prepared

Recent pay stubs or proof of income
Bank statements
Tax returns and W-2s
Photo ID
Any existing loan or debt details
Rental history (if applicable)

Having these ready early helps speed things up and avoids surprises.

Timeline: From Pre-Approval to Closing

Pre-Approval: usually a few days to a week (depends on how fast you provide documents)
House Hunting & Offer: weeks to months
Processing & Underwriting: typically 30–45 days from application to closing
Closing: sign final documents and get your keys!

The mortgage process can feel overwhelming, but you don’t have to go it alone. At Banker’s Lending Group, we’ll help you understand your options, gather what you need, and move through each step smoothly. Ready to start? Reach out—we’re here to guide you home!