Buy a home
A clearer path toward financing your next home.
Bloomfield Lending helps borrowers understand purchasing power, compare loan program categories, and see how the mortgage process actually works — so the financing side of buying a home feels understandable rather than uncertain.
Start with your budget
Understand what may fit your budget.
What you can comfortably finance depends on more than a single number. Several factors work together, and changing any one of them can change the picture.
- Income
- Monthly debt obligations
- Down payment
- Interest rate
- Property taxes
- Homeowners insurance
- Other applicable housing expenses
Purchase loan options
These are the loan program categories borrowers most often review when buying. Each one works differently, and eligibility is determined by the program or the lender.
Home Purchase
Financing for buying a primary residence, second home, or investment property.
Learn moreConventional Loans
Mortgages that are not insured or guaranteed by a government program.
Learn moreFHA Loans
A government-insured mortgage program with its own qualifying standards.
Learn moreVA Loans
A mortgage program category for eligible veterans, service members, and survivors.
Learn more
Plan for your down payment.
Down payment expectations are not the same for every borrower. They vary by loan program, property type, borrower qualifications, and other factors reviewed during underwriting. Working through the numbers early helps you see how a down payment changes the amount financed.
Work it in either direction
Start from a percentage or a dollar amount and see the resulting down payment and loan amount side by side.
Use Down Payment CalculatorThe purchase process
- Step 1
Talk about your goals
Share what you're hoping to buy and what matters most to you about the financing.
- Step 2
Understand your budget
Review how price, down payment, and monthly costs relate to one another.
- Step 3
Complete your mortgage application
Provide your application and the supporting information a lender asks for.
- Step 4
Review available loan options
Compare the loan program categories that may apply to your situation.
- Step 5
Move through processing and underwriting
Your file is reviewed against the requirements of the program you're pursuing.
- Step 6
Prepare for closing
Review your final documents and what to expect at the closing table.
What you may need
Depending on your situation, a mortgage lender may request some of the following. Not every borrower is asked for every item, and additional information may be requested during review.
Identification
Government-issued identification for each borrower on the loan.
Income documentation
Records that show how your income is earned, which vary by how you're paid.
Employment information
Details about your current and recent employment or business activity.
Asset and bank statements
Statements for accounts related to your down payment and reserves.
Housing and debt history
Information about where you've lived and the debts you currently carry.
Property information
Details about the property once you're under contract on a home.
Buying for the first time
If this is your first mortgage, these are the areas worth understanding before you start looking at homes.
Understanding affordability
Affordability reflects more than a home price — it depends on income, debts, and the full monthly cost of owning.
Loan options
Different loan program categories have different structures and qualifying standards set by the program or lender.
Down payment planning
How much you put down affects the amount you borrow and can affect other costs of the loan.
Mortgage payment components
A monthly payment often includes principal, interest, property taxes, insurance, and sometimes other items.
Closing costs
Costs due at closing are separate from your down payment and vary by loan, property, and location.
Asking questions
There's no wrong question. Understanding each step is part of the process, not an interruption to it.
Thinking about buying a home?
Tell us what you're hoping to do and we'll walk through the options that relate to your goals.