Buy A Home
Home Loans Built on Real Relationships
Buying a home is one of the most significant investments you will make, which is why having a trusted mortgage professional by your side is invaluable. From your first question, to closing and beyond, our team is here to listen, guide and offer mortgage solutions that fit your homebuying goals. When you work with Sunflower Bank, you’re not just getting a loan, you're gaining a partner who is invested in you and the community.
Get Prepared for Your Homebuying Journey
Sunflower Bank offers comprehensive loan options, practical tools, helpful resources and expert support to help you plan confidently and make informed choices.
Make Homeownership More Affordable with Down Payment Assistance
Down Payment Assistance programs help prospective homeowners purchase a home without needing to save as much for their down payment. Learn more about Down Payment Assistance resources and see if you qualify.
FAQs: What to Know When Buying a Home
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When considering how much you can afford, remember a few guidelines.
- Start with your income and any existing debt obligations. Percentages vary, but a traditional rule of thumb has been housing payment + housing taxes + housing insurance shouldn’t exceed 28% of your gross monthly income.
- Total monthly debt payments (including housing) should ideally stay below 36% of your gross monthly income. More conservative advice suggests limiting housing expenses to 25% of your take-home pay. Also, factor in how much you have saved for your down payment.
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Traditionally, 3% of your mortgage as a down payment has been required, however more lenders are flexible now. To avoid paying for private mortgage insurance (PMI), you will want to pay 20% of your mortgage as a down payment. According to a National Association of Realtors report, “in 2024, the median down payment among all buyers was 18%, nine percent for first-time home buyers, and 23 percent for repeat buyers.” These metrics can change depending on the type of loan you are acquiring, see a loan professional for specific information about your situation.
Your down payment also depends on your loan type (Conventional, Government, Jumbo). We offer mortgage loan programs that allow up to 100% financing with a minimum down payment of $500 on 1-unit properties. Some buyers may also qualify for a Down Payment Assistance (DPA) Program that will help ease the upfront cost of the down payment. Check Out Our Home Affordability Calculator about How much do I need for a down payment? -
The industry average for closing costs is approximately 2% to 3% of your loan amount. Typically, Sunflower Bank has closing costs below this average. A mortgage loan expert will provide a loan estimate (LE) outlining your estimated closing costs. You will also receive a closing disclosure (CD) before closing to finalize the cash to close. Considering financing closing costs? Learn More about How much cash will I need for closing costs?
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- Pre-approval and pre-qualification are not the same thing. However, some lenders use them interchangeably, as every lender handles approval differently.
- Pre-qualification states that you will qualify for a mortgage. However, it might not accurately represent how much you will be approved for. Pre-qualification does not use your credit report; without this, a lender can only estimate your pre-approved amount.
- Pre-approval is a more official step where lenders look at your income, assets and credit score to determine the loan amount and interest rate that you will receive.
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To determine the right loan for your needs, consider the following:
- How much money have you saved for a down payment and closing costs?
- How long do you plan to own the home?
- Are there any issues with your credit history that may impact your loan approval or interest rates?
- What are your short-term and long-term financial goals?
- Ideally, how many years would pass before the home loan is paid off?
- Are there any upcoming financial obligations or events to consider, such as college tuition?
- Do you have a stable income stream (base salary), or does your income fluctuate (self-employed or commission income)?
- How comfortable are you with potential changes in interest rates for a lower rate upfront?
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Take the first steps toward homeownership with a lender you can trust. Whether you’re just starting your home search or have already found your dream home, we’re here to help you confidently move forward. Start your application or connect with a local Sunflower Bank expert today.
Together, we’ll make your homeownership dreams a reality.
Consult your mortgage loan originator for details. Certain terms and restrictions apply. Program available only to qualified borrowers. Program subject to change without notice. Underwriting terms and conditions apply. Loan subject to credit review and approval. This is not an offer for extension of credit or a commitment to lend.