Buy a New Home

Quicken Loans Zing Blog - Learning Center - Buy a New Home When you’re packing up and headed down the road toward buying a brand new home, we can help you ease the transition with our simple online tools and proactive updates!

If the thought of saving for a super-sized down payment seems like an impossible feat, we’ve got programs that require as little as 3.5% down! In some cases, you can even obtain your down payment costs through a non-profit organization or a relative!

And what about the preapproval process involved with loans you’ve heard about? With Quicken Loans, you won’t have to worry about paying any fees to get approval before you start shopping for a home. You’ll get more bargaining power and enjoy hassle-free home buying!

Does This Describe You?

Time to upgrade to a bigger place as your family keeps growing? Or perhaps you’re checking out that little place near the beach as you near your twilight years? Either way, we’re here to help you get moving on purchasing your new home!

What Are the Home Loan Options That Fit Your Goal?

15-Year Fixed Rate Mortgage
When the thought of high interest rates have you running for the hills, consider a 15-Year Fixed-Rate Loan for your new place.  Many Americans choose the security and ease that comes with financing a home more quickly, with lower interest rates, and for as little as 5% down.  It’s a perfect mortgage option if you’re not planning to stay in the home for a long period of time!

30-Year Fixed Rate Mortgage
With a 30-year fixed-rate, payments are low and steady, leaving you with that peace-of-mind feeling that there won’t be any surprises hitting your budget as you’re moving into your new pad!  It’s a great option if you’re looking for features such as:

  • Opportunity to purchase a primary home with as little as 5% down
  • Loan amounts ranging from $25,000 to $2,000,000

FHA Mortgage
What do you get when you add an easier qualification process to government-backed security?  It’s the FHA Loan, and it’s a flexible and trusted equation that can add up to savings on your new home! With your FHA Loan, you’ll get features such as:

  • 30-, 25-, 20-, and 15-year fixed-rate terms
  • Qualification for credit scores as low as 580
  • Ability to refinance up to 97.75% of your primary home’s value
  • Option to purchase a primary home with as little as 3.5% down

VA Mortgage
We’ve got super rate-saving options for first-time home buying veterans too!  Apart from the no down payment guarantee that saves you money up front, VA loans are available with the following options:

  • 30-, 20-, and 15-year fixed-rate loans
  • Jumbo VA loans up to $1,094,625 ($1,500,000 in Alaska and Hawaii)
  • No monthly PMI (Private Mortgage Insurance)
  • Opportunity to buy your home with no money down!

Jumbo Mortgage
Our Home Loan Experts at Quicken Loans offer maximum flexibility on fixed or adjustable rate loans over the conventional limit of $417,000.  Apart from being able to borrow at a lower rate, here are some of the great features you’ll get with a jumbo loan:

  • Ability to purchase up to $2,000,000
  • Security and flexibility of an available FHA jumbo loans, allowing you to purchase for as little as 3.5% down
  • Added value on available VA jumbo loans, featuring the zero down payment!
  • Opportunity to pay off mortgage any time without pre-payment penalties

YOURgage Mortgage
If you’re looking to refinance but stay the course with your loan’s term, consider our YOURgage. Our most revolutionary and flexible home loan option, it’s customizable to your terms, whether it’s a 27-year or 19-year mortgage!

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