Explore Your Home Loan Options
Every homebuyer’s story is a little different—and so is the right loan for their journey. Below is a clear, simple guide to the most common home loan options so you can find the one that fits your situation best.
Purchase Loans
Conventional Loans
Conventional loans are not backed by the government and are ideal for borrowers with solid credit and stable income. They typically require a minimum 3% down for first-time buyers and offer the flexibility of removing private mortgage insurance (PMI) once you reach 20% equity.
FHA Loans
Backed by the Federal Housing Administration, FHA loans are designed for buyers with lower credit scores or smaller down payments. They allow as little as 3.5% down and offer more flexible credit and income requirements, though they do require ongoing mortgage insurance.
VA Loans
Available exclusively to eligible veterans, active-duty service members, and surviving spouses, VA loans require no down payment and have no monthly mortgage insurance. They often offer lower interest rates and more flexible underwriting.
USDA Loans
These loans are designed to support homeownership in rural and suburban areas. USDA loans require no down payment, offer low interest rates, and have reduced mortgage insurance. Income limits and geographic eligibility rules apply.
Jumbo Loans
Jumbo loans are for homes that exceed the conforming loan limit (varies by location). They require higher credit scores, larger down payments (often 10–20%), and significant income and reserve documentation. Ideal for luxury or high-cost housing markets.
Non-QM Loans
Non-Qualified Mortgages (Non-QM) are designed for borrowers who don’t meet standard income or credit guidelines. Options include bank statement loans, 1099-only loans, or asset-based qualification. These loans are great for self-employed buyers or real estate investors.
First-Time Buyer Programs
Some lenders and state housing authorities offer programs designed specifically for first-time buyers, often with down payment assistance, lower interest rates, or reduced mortgage insurance costs.
Low Down Payment Options
There are several options available that allow 3% down with flexible income guidelines and competitive rates. These programs are designed to expand access to credit for creditworthy buyers.
Refinance Loans
Rate & Term Refinance
This type of refinance allows you to change your interest rate, loan term, or both—usually to lower your monthly payment or pay off your mortgage faster.
Cash-Out Refinance
Use your home’s equity to take cash out and use it for home improvements, debt consolidation, or other major expenses. This replaces your current mortgage with a new one that’s larger than what you owe.
FHA Streamline Refinance
For existing FHA borrowers, this simplified refinance program requires minimal documentation, no new appraisal, and quick turnaround—perfect for lowering your rate with minimal hassle.
USDA Refinance
Allows current USDA borrowers to refinance for a lower rate without needing a new appraisal in many cases. The process is simplified and helps keep housing affordable.
VA IRRRL (VA Streamline)
If you already have a VA loan, the Interest Rate Reduction Refinance Loan (IRRRL) offers a fast, low-cost way to refinance at a better rate without an appraisal or income verification.
Non-QM Refinance
This is a refinance option for borrowers who qualified using non-traditional means. Great for investors or self-employed borrowers using bank statements or other alternative documentation.
Ready to Take the Next Step?
Understanding your loan options is a huge win. Now let’s make it personal.
Whether you have questions or you’re ready to move forward, we’re here to help:
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Schedule a Free Consultation — Talk to a licensed mortgage professional who can help walk you through your choices and create a plan that fits your goals.
Apply Now — If you're confident and ready to take the next step, complete your loan application securely online and we’ll start the process right away.
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Choose your path. We’ll guide you either way.