Loan Programs
Eight Ways to Finance
and honest math on each
Most lender sites list what every loan is good for and stop there. Each one below gets both halves, because you cannot choose well without knowing the cost.
What We Offer
Eight Programs, Eight Different Jobs
Fixed Rate
A payment that does not move for the life of the loan
- Typical down
- 5%
- Typical terms
- 15 or 30 years
Learn more →
FHA
Lower down payment and more forgiving credit
- Typical down
- 3.5%
- Typical terms
- 10 to 30 years
Learn more →
VA
For veterans and service members, often the best terms available
- Typical down
- None
- Typical terms
- 15 to 30 years
Learn more →
Jumbo
Above the conforming limit in your county
- Typical down
- 20%
- Typical terms
- 15 or 30 years
Learn more →
USDA
Zero down on eligible rural and semi-rural property
- Typical down
- None
- Typical terms
- 30 years
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Renovation 203(k)
Buy the house and fund the work in one loan
- Typical down
- 3.5%
- Typical terms
- 30 years
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Adjustable Rate (ARM)
Lower to start, adjusts later
- Typical down
- Varies
- Typical terms
- 3/1 and other structures
Learn more →
Bank Statement
Qualify on deposits when tax returns understate income
- Typical down
- 10 to 20%
- Typical terms
- 15 or 30 years
Learn more →
Figures shown are general category characteristics, not offers or rate quotes. Specific terms depend on the lender, the program, the property, and your file.
Start Here
The Fast Version
Documented W-2 income, decent credit, and something to put down puts you in conventional fixed rate territory. Thin down payment or credit still recovering is what FHA exists for. If you served, check VA first, and check it even if you think you already used it. Loan bigger than your county's conforming limit means jumbo. Rural or semi-rural address is worth a USDA eligibility check, because the map covers more ground than people assume. A house that needs work before it is livable is a renovation loan. Confident you will move or refinance inside five years, an ARM deserves a look. Self-employed with a tax return that understates the business is a bank statement loan.
That is the fast version. The real answer depends on details a chart cannot see.
Side by Side
How They Compare
- Minimum down
- 5%
- Mortgage insurance
- Removable at 80 percent loan-to-value
- Credit flexibility
- Rewards strong credit, stricter than FHA
- Income documentation
- Not stated in the content file
- Best for
- A payment that does not move for the life of the loan
- Minimum down
- 3.5%
- Mortgage insurance
- Required, generally for the life of the loan
- Credit flexibility
- Scores as low as 580 at the 3.5 percent tier
- Income documentation
- Steady employment history, typically two years
- Best for
- Lower down payment and more forgiving credit
- Minimum down
- None
- Mortgage insurance
- None
- Credit flexibility
- Generally more forgiving than conventional
- Income documentation
- Not stated in the content file
- Best for
- For veterans and service members, often the best terms available
- Minimum down
- 20%
- Mortgage insurance
- Usually none, priced into the rate instead
- Credit flexibility
- Typically 700 and above
- Income documentation
- Additional documentation, particularly on complex income
- Best for
- Above the conforming limit in your county
- Minimum down
- None
- Mortgage insurance
- Guarantee fee, upfront and annual
- Credit flexibility
- Credit and debt-to-income standards apply
- Income documentation
- Household income must fall under the county limit
- Best for
- Zero down on eligible rural and semi-rural property
- Minimum down
- 3.5%
- Mortgage insurance
- FHA mortgage insurance applies
- Credit flexibility
- FHA credit standards apply on the 203(k) version
- Income documentation
- Not stated in the content file
- Best for
- Buy the house and fund the work in one loan
- Minimum down
- Varies
- Mortgage insurance
- Not stated in the content file
- Credit flexibility
- Not stated in the content file
- Income documentation
- Not stated in the content file
- Best for
- Lower to start, adjusts later
- Minimum down
- 10 to 20%
- Mortgage insurance
- Not stated in the content file
- Credit flexibility
- Typically 620 to 680 or better
- Income documentation
- 12 to 24 months of bank statements
- Best for
- Qualify on deposits when tax returns understate income
Figures shown are general category characteristics, not offers or rate quotes. Specific terms depend on the lender, the program, the property, and your file.
Not Sure Which Row Is Yours
Normal place to start. Tell us about the property, your income, and your timeline, and we will point you at the fit, including when that is the option paying us less.