Home purchase loans, compared for you

How buying with a mortgage works

Most purchases follow the same path. You start with a pre-approval, which tells you and sellers roughly what you can borrow. You shop for a home, make an offer, and once it's accepted the lender orders an appraisal and underwrites the loan. After conditions are cleared, you sign and close.

The loan type you pick shapes everything along the way: how much you need to put down, whether you pay mortgage insurance, how your income is documented and how competitive your offer looks.

Loan options for buyers

• Conventional loans follow Fannie Mae and Freddie Mac guidelines and work for many buyers with solid credit and documented income.
• FHA loans are government-insured and can be more flexible on credit and down payment.
• VA loans are for eligible veterans, service members and some surviving spouses.
• Jumbo loans are for loan amounts above conforming limits.
• Non-QM loans, such as bank statement loans, fit buyers whose income doesn't show well on tax returns.
• DSCR loans are for investors buying rental property.

Who this page is for

First-time buyers, move-up buyers, self-employed buyers, veterans and investors. If you're not sure which loan fits, that's normal. Sorting it out is our job.

What to have ready

Government-issued ID, recent pay stubs and W-2s or other income documents, bank statements showing funds for closing and reserves, and details of any debts. Self-employed buyers may use bank statements or other alternatives. Requirements vary by lender.

Tips for a smoother purchase

• Get pre-approved before you start touring homes.
• Avoid opening new credit or making large purchases during the process.
• Keep paper trails for large deposits.
• Ask about all costs, not just the payment.

How Turn Times helps

Turn Times is a licensed mortgage broker, not a lender. Instead of offering one company's products, we compare home purchase options from wholesale lenders and walk you through the differences in plain language. Here's how it usually goes:

1. Tell us your goal. A short conversation about the property, your timeline and what matters most to you.
2. We search pricing across wholesale lenders. We look at which wholesale lenders' guidelines may fit your situation, and a licensed loan officer compares their pricing and terms.
3. You choose. We lay out the trade-offs so you can pick the option that works for you.
4. We manage the loan to closing. Appraisal, title, conditions and updates along the way.

Every loan is subject to the lender's underwriting, and approval isn't guaranteed. We arrange loans for properties in California and Colorado.

Frequently asked questions