Loan Options

Not all mortgages are the same — and the right loan depends on your goals, budget, and situation. Here's an overview of the most common loan programs, so you can have an informed conversation about what fits you best.

• Conventional Loans

  Not backed by a government agency, conventional loans often offer competitive rates for borrowers with strong credit. Down payments can be as low as 3% for qualified first-time buyers.

• FHA Loans

  Backed by the Federal Housing Administration, FHA loans are a popular choice for first-time buyers, with down payments as low as 3.5% and more flexible credit requirements.

• VA Loans

  Available to eligible veterans, active-duty service members, and surviving spouses, VA loans are backed by the Department of Veterans Affairs and often require no down payment.

• USDA Loans

  Designed for homes in eligible rural and suburban areas, USDA loans can offer 100% financing with no down payment required for buyers who meet income limits.

• Jumbo Loans

  For loan amounts above conventional limits, jumbo loans typically call for stronger credit, a larger down payment, and additional cash reserves.

• Non-QM Loans

  For borrowers who don't fit a conventional box. DSCR loans qualify real estate investors using a property's rental income instead of personal income; bank statement loans qualify the self-employed using deposits instead of tax returns; and asset-depletion loans let borrowers qualify using savings and investments they already have.

• Manufactured Home Loans

  Financing for manufactured (mobile) homes on owned or leased land. Options are available through conventional, FHA, and VA programs, depending on the home's age, foundation, and titling.

• Fixed-Rate vs. Adjustable-Rate (ARM)

  A fixed-rate loan locks in the same interest rate for the life of the loan. An ARM starts with a lower rate that adjusts periodically after an initial period — we'll help you weigh the trade-offs.