Redfin

JULY 30, 2025

Here are the minimum credit scores needed to qualify for certain loans: Conventional loans: 620-660 Jumbo loans: 700 FHA loans: 500-580 VA loans: no requirement USDA loans: typically 620, but can be lower 8. Several loan options, such as FHA or VA loans, only require a down payment of 3.5%

Pre-approval

Redfin

AUGUST 5, 2025

Talk to the financial institution holding your money and ask if they’d provide a letter stating you’re able to make a cash purchase up to the specified amount. Offer a high earnest money amount Offer a high earnest money deposit when making a cash offer. Attach this document with your offer letter.

Earnest money deposit

HomeLight

JANUARY 27, 2021

If you put down less than 10%, you can’t cancel the mortgage insurance unless you refinance. VA loans : Finally, there are VA loans that have advantageous features for qualifying military service members and their spouses. …And your interest rate types. Adjustable-rate interest.

Closing costs

The Close

DECEMBER 29, 2022

It’s an official form certifying that a veteran has met the terms that qualify someone for a VA loan. VA loans might have a lot of red tape, but they can be excellent, affordable options for service members and their spouses. It’s kind of like a fixed-rate mortgage and an adjustable-rate mortgage had a baby.

Purchase and sale agreement