The short answer
Purchase financing covers everything from preapproval to closing: choosing a loan program, locking a rate, completing the appraisal and underwriting, and funding your purchase on closing day.
Reviewed by Jennifer Reich, Branch Manager, NMLS 162239 · Last reviewed October 16, 2026
What does the purchase process look like?
Every loan is a little different, but most purchases follow the same sequence.
- Conversation and preapproval
- Home search and accepted offer
- Loan application, disclosures, and rate lock
- Appraisal, title, and underwriting review
- Clear to close, final disclosure, and signing
How do you choose the right loan?
Jennifer compares options side by side — payment, cash to close, mortgage insurance, and long-term cost — so you can make an informed decision. Conventional financing is often the starting point, with FHA, VA, and non-QM options considered when they may fit better.
Move-up buyers and buying before selling
If you already own a home, timing matters. Jennifer can talk through how your current home's equity, sale timing, and existing payment factor into qualifying for your next purchase.
Questions to ask Jennifer
- How long is a preapproval good for?
- When should I lock my rate?
- What could delay my closing, and how do I avoid it?
- Can I qualify for my next home before selling my current one?