Loan Options

From first-time buyer programs to jumbo loans, we match the right loan to your situation from 50+ lender partners.

Conventional Loans

Conventional loans are the most common type of mortgage and are not backed by a government agency. They offer competitive rates, flexible terms, and are available for primary residences, second homes, and investment properties.

With strong credit and a solid financial profile, conventional loans often provide the best overall terms. Down payments can be as low as 3% for first-time buyers, though putting down 20% eliminates the need for private mortgage insurance (PMI).

Best For

Buyers with good-to-excellent credit (620+), stable income, and the ability to make at least a 3% down payment. Ideal for those who want the lowest long-term cost.

Key Requirements & Terms

  • Minimum credit score: 620 (680+ for best rates)
  • Down payment: 3% - 20%+
  • Loan terms: 10, 15, 20, or 30 years
  • Fixed or adjustable rate options
  • PMI required if less than 20% down
  • Conforming loan limits apply (varies by county)
  • DTI ratio typically under 45%

FHA Loans

FHA loans are insured by the Federal Housing Administration and are designed to make homeownership accessible to borrowers who may not qualify for conventional financing. They feature lower credit score requirements and smaller down payments.

These loans are especially popular with first-time homebuyers because of their flexible qualifying guidelines. The trade-off is that FHA loans require both an upfront mortgage insurance premium (UFMIP) and annual mortgage insurance premiums (MIP) for the life of the loan in most cases.

Best For

First-time homebuyers, borrowers with credit scores between 500-679, or anyone who needs a lower down payment option. Great for buyers rebuilding credit after a financial setback.

Key Requirements & Terms

  • Minimum credit score: 500 (580 for 3.5% down)
  • Down payment: 3.5% (10% if score is 500-579)
  • Loan terms: 15 or 30 years
  • Fixed rate only for most borrowers
  • Upfront MIP: 1.75% of loan amount
  • Annual MIP: 0.55% - 1.05% (varies)
  • Primary residence only
  • DTI ratio up to 50% in some cases

VA Loans

VA loans are guaranteed by the U.S. Department of Veterans Affairs and offer exceptional benefits to eligible veterans, active-duty service members, and qualifying surviving spouses. They are one of the best mortgage products available in the market.

The most significant benefit is zero down payment, meaning you can finance 100% of the home's value. There is no private mortgage insurance requirement, and VA loans typically offer lower interest rates than conventional loans.

Best For

Veterans, active-duty military, National Guard/Reserve members with qualifying service, and eligible surviving spouses. If you qualify, a VA loan is almost always your best option.

Key Requirements & Terms

  • Certificate of Eligibility (COE) required
  • No minimum credit score (most lenders require 620)
  • Down payment: $0 (zero down)
  • No PMI requirement
  • VA funding fee: 1.25% - 3.3% (can be financed)
  • Loan terms: 15 or 30 years
  • Primary residence only
  • Competitive interest rates

USDA Loans

USDA loans are backed by the U.S. Department of Agriculture and are designed to promote homeownership in rural and suburban areas. They offer zero down payment and competitive rates for eligible borrowers in qualifying locations.

The "rural" designation is more generous than most people expect. Many suburban communities qualify, including areas on the outskirts of major metro regions. Income limits apply, but they are based on area median income and are higher than you might think.

Best For

Moderate-income buyers purchasing in USDA-eligible rural or suburban areas who want a zero-down-payment option with competitive rates. Check USDA eligibility maps to see if your area qualifies.

Key Requirements & Terms

  • Property must be in USDA-eligible area
  • Household income within area limits (115% AMI)
  • Minimum credit score: 640 (most lenders)
  • Down payment: $0 (zero down)
  • Guarantee fee: 1% upfront + 0.35% annual
  • 30-year fixed rate only
  • Primary residence only

Jumbo Loans

Jumbo loans exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In most areas, this means loan amounts above $766,550 (2024 limits), though higher-cost areas have higher thresholds.

Because jumbo loans cannot be purchased by Fannie Mae or Freddie Mac, they carry slightly higher rates and stricter qualification requirements. However, our access to 50+ lenders means we can find competitive jumbo rates that many borrowers are surprised to see.

Best For

Buyers purchasing higher-priced properties who need loan amounts exceeding conforming limits. Requires strong credit, significant assets, and higher down payments.

Key Requirements & Terms

  • Loan amounts above conforming limits
  • Minimum credit score: 700 (720+ preferred)
  • Down payment: 10% - 20%+
  • Cash reserves: 6-12 months of payments
  • DTI ratio: typically under 43%
  • Full documentation of income and assets
  • Fixed and adjustable rate options

Refinancing

Already have a mortgage? Refinancing replaces your current loan with a new one, potentially at a better rate or with different terms. There are several types of refinancing to match different goals.

Rate-and-Term Refinance: Replace your current loan with a lower rate or different term length. This is the most common type and is ideal when rates have dropped since you originally financed.

Cash-Out Refinance: Borrow more than you owe and take the difference in cash. Useful for home improvements, debt consolidation, or major expenses.

Streamline Refinance: Simplified refinancing for FHA and VA loans with reduced documentation and faster processing. Often available without a new appraisal.

Best For

Homeowners looking to lower their rate, shorten their loan term, eliminate PMI, or access home equity. Best when current rates are at least 0.5% - 1% below your existing rate.

Refinance Options at a Glance

  • Rate-and-term: Lower your rate or change your term
  • Cash-out: Access your home equity as cash
  • FHA Streamline: Simplified FHA-to-FHA refinance
  • VA IRRRL: VA-to-VA streamline refinance
  • Remove PMI when equity reaches 20%
  • Typical closing costs: 2% - 5% of loan amount
  • Break-even analysis provided for every scenario

Loan Type Comparison

A side-by-side look at key features across our most popular loan programs. All rates are illustrative.

Feature Conventional FHA VA USDA
Min. Down Payment 3% 3.5% 0% 0%
Min. Credit Score 620 500 620* 640
Mortgage Insurance PMI (removable at 20%) MIP (life of loan) None Guarantee fee
Illustrative Rate 6.50% 6.25% 6.00% 6.25%
Property Types Primary, 2nd home, investment Primary only Primary only Primary only (rural)
Income Limits None None None 115% of area median
Loan Limits $766,550 (most areas) $498,257 (most areas) No limit Varies by area

*VA has no official minimum credit score, but most lenders require 620. Rates are illustrative and do not represent an offer to lend.

Your First Home Starts Here

Buying your first home is one of the biggest financial decisions you'll make. We're here to make it clear, manageable, and even enjoyable.

Special Programs Available

First-time buyers have access to programs that make homeownership more affordable than you might think. Here's what's available:

  • FHA loans with as little as 3.5% down payment
  • Conventional 97 loans with just 3% down
  • Down payment assistance programs (grants and second mortgages)
  • State housing finance agency programs with below-market rates
  • Seller concessions to cover closing costs

Step-by-Step Guide

Check Your Credit

Review your credit report and score. We can help you understand where you stand and what to improve before applying.

Get Pre-Approved

Know exactly how much home you can afford before you start shopping. Pre-approval also signals to sellers that you're a serious buyer.

Find Your Home

Work with a real estate agent to find the right property. We can recommend trusted agents in your area.

Make an Offer

Your agent will help you craft a competitive offer. Your pre-approval letter gives you an edge.

Finalize Your Loan

We handle appraisal coordination, underwriting, and all the paperwork. You stay informed at every step.

Close & Move In

Sign the final documents, get your keys, and celebrate. Welcome home.

Not Sure Which Loan Is Right for You?

That's exactly what we're here for. Schedule a free consultation and we'll walk through your options together.