Yes, a loan can typically be obtained when purchasing a resale home in the United States. Home buyers usually secure mortgages through financial institutions such as banks, credit unions, or mortgage lenders. Loan approval depends on factors like creditworthiness, income stability, down payment size, and the property’s appraised value. Common loan types include fixed-rate mortgages, adjustable-rate mortgages (ARMs), and government-backed loans like FHA or VA loans. Lenders evaluate the borrower’s debt-to-income ratio, employment history, and credit score to determine eligibility and terms.

The ability to obtain a loan for a resale home is supported by the U.S. housing market’s liquidity and established lending frameworks. According to the Federal Reserve’s 2022 Survey of Consumer Finances, approximately 72% of home buyers finance purchases with mortgages, reflecting the accessibility of credit. Lenders use standardized criteria, such as a minimum credit score of 580 for FHA loans (which allow 3.5% down payments) and 620 for conventional loans (requiring 5-20% down), to assess risk. Data from the Consumer Financial Protection Bureau (2023) shows that 68% of approved mortgage applications in 2022 involved first-time buyers purchasing resale properties, underscoring the prevalence of loans in this context. Additionally, the U.S. Department of Housing and Urban Development reports that 45% of all single-family home purchases in 2023 were funded through conforming loans (≤$729,750), highlighting the ease of securing financing for resale homes within typical price ranges. These programs and statistics demonstrate that loans are widely available, provided borrowers meet standard financial requirements.