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Purchase a Home

Our purchase loan process is focused on low rates, transparent fees, without the pitch. Here are some of the Purchase options we offer:

Conventional Purchase:

This is a traditional option for any home buyer who will provide a 20% down payment. It is supported by two government-sponsored enterprises, Fannie Mae and Freddie Mac.

Home Possible And Home Ready:

These are remarkable programs for first-time homebuyers that require only a 3% down payment, primarily aimed at this target audience. They offer similar attractive rates of 20% down loans, but with a smaller down payment. Because the down payment is less than 20% of the purchase price, these loans require monthly mortgage insurance as part of the new payment.

FHA Purchase:

FHA Loans offer flexibility for all borrowers. They feature low down payments, and low rates. We have successfully closed FHA loans with a middle FICO score as low as 508 and a 5% down payment. 

VA Purchase:

The VA home purchase loans are a fantastic program. You must have VA eligibility to use it. This program offers the possibility of a zero percent down payment, the most competitive mortgage rates available, and no mortgage insurance. The VA home loan may have a funding fee that can be paid at closing or added to the final loan.

Non-QM Programs:

These programs include bank statement loans for self-employed individuals and Debt Service Coverage Ratio (DSCR) loans for investors. If you find that you don’t fit into the standard purchase category but believe you can afford to buy a home, this could be an option worth considering.

Reverse Mortgages For Home Purchases

A lesser-known fact is the potential to use a Reverse Mortgage for the purpose of buying a home.

Reverse Mortgage for Purchase

Forget old perceptions. A Reverse Mortgage for Purchase is a savvy financial instrument, offering a transparent alternative to conventional loans.

It’s a powerful tool, particularly for seniors, allowing you to purchase a new home without draining cash or facing typical qualification hurdles. This option can also provide unmatched flexibility with interest-only repayment options.

This isn’t about a one-time transaction; it’s about innovative solutions.

While highly advantageous for many, it’s not for everyone. We offer clear, honest guidance. Reach out to us, and we’ll help you understand if this option truly aligns with your goals. No pressure – just clarity so you can make the best decision for your future.

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@2025 Locus Mortgage

Need help?

Our team is here to answer your questions.

Whether you’re not sure how to get started or want help understanding your options, we’re happy to assist.

  • Call us at 303-444-5251
  • Email info@locusmortgage.com
  • Or just click the green “Get a Quote” button to begin — we’ll follow up.

We believe in pressure-free guidance, not sales calls. Reach out anytime.

Rate Alert

Want to track rates that match your exact scenario?

Click “Personalize My Rate” to receive bi-weekly updates based on the information you’ve entered.

  • You’ll see updated rates for your specific loan size, credit score, and property type.
  • No spam — just clean rate updates every other week.
  • You can unsubscribe at any time with one click.

This is the easiest way to watch the market and lock in when the timing is right — without re-entering your info each time.

What is this page?

This is the same live rate sheet we use when you call in for a quote.

Rates are shown from lowest to highest. Here’s how to understand the options:

  • Lower rates typically come with a discount fee (or “points”).
  • Higher rates may include a lender credit to offset your closing costs.
  • We display multiple loan terms — 15yr, 20yr, and 30yr — so you can compare.

This page gives you full transparency. You can see exactly what you qualify for and how your choices affect the rate and costs.

Where do I start?

To get an accurate quote, begin at the top of the form.

Enter all the requested information as accurately as possible:

  1. Choose Purchase or Refinance.
  2. Fill in your ZIP code, purchase price or home value, down payment or mortgage balance, and credit score.
  3. Select your property type and how it will be used.

These inputs directly affect your quoted rate. The more accurate your entries, the more personalized and reliable your quote will be.

Fee Breakdown Guide

This quote includes lender fees only.

To see an estimate of all fees, including third-party costs:

  1. Click the blue Fees link.
  2. In the pop-up, click Details.
  3. Then select Closing Cost PDF.

This will show estimated title fees, appraisal, taxes, and insurance. Since those vary by property and location, we only display lender fees here — the part we can quote precisely.