ONEPLACERENTALS

Financing

Understand the numbers before the offer.

The loan types first-time buyers commonly compare, what each upfront cost means, and a planner to estimate your monthly housing cost.

Payment and upfront cash planner

Edit any number. The default rate is illustrative only — it isn’t a quote or a live rate.

Estimated monthly housing cost

$2,201

Principal & interest
$1,501
Property taxes
$500
Homeowners insurance
$100
Mortgage insurance
$100
HOA / condo fee
$0
Monthly housing total
$2,201
With maintenance reserve
$2,351
Loan amount
$237,500
Down payment
$12,500 (5.0%)
Estimated upfront cash
$21,500

Estimate only — not a quote, rate offer or preapproval. No assistance is subtracted. Your Loan Estimate from a lender shows actual figures.

Take your numbers to a lender conversation:

Homebuying budget worksheetPDF · 2 pages · 47 KBLender conversation guidePDF · 2 pages · 48 KB

Loan types at a glance

Conventional

Not government-insured. Down payments can be modest; with less than 20% down, private mortgage insurance usually applies until enough equity builds.

Source: CFPB — Compare loan options · Reviewed September 26, 2026

FHA (203(b))

Insured by FHA, with mortgage insurance premiums. Can be used for eligible 1–4 unit homes you live in.

Source: HUD — FHA 203(b) · Reviewed September 26, 2026

USDA Guaranteed

For eligible rural addresses and incomes, primary residence only. Not available for every Capital Region address — check the property.

Source: USDA — Single Family Housing Guaranteed Loan · Reviewed September 26, 2026

VA

For eligible veterans, service members and some surviving spouses; requires a Certificate of Eligibility.

Source: VA — Home loans · Reviewed September 26, 2026

Down payment, closing costs, prepaids and reserves

Down payment is your share of the purchase price.

Closing costs are fees for the loan and transaction — lender, appraisal, title, recording and attorney fees.

Prepaids are costs paid ahead, such as homeowners insurance and initial escrow deposits for taxes.

Reserves are savings left after closing. Some lenders require them; every owner benefits from them.

Compare Loan Estimates

Request Loan Estimates from more than one lender on the same day, for the same loan type and amount. Compare the rate, points, lender fees (Section A), and the total cash to close — not just the monthly payment.

Ask how any assistance program affects the rate or fees.

Sources: CFPB — Loan Estimate explainer · CFPB — Compare loan options · Reviewed September 26, 2026

OnePlace provides independent guidance from Scott J. Alvarez, Licensed Real Estate Salesperson, Coldwell Banker Prime Properties. OnePlace does not award grants, make or originate loans, or run any government program, and has no sponsorship arrangements with the lenders or administrators mentioned. Program terms and funding change — confirm details with the administrator or lender. Estimates are not quotes or preapprovals. Reviewed September 26, 2026.