Loan Programs
Whether you're buying your first home, refinancing, or growing a rental portfolio, there's a loan program built for your situation. Compare your options below — each page covers down payment, credit score, eligibility, pros and cons, and the documents you'll need.
Conventional
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Conventional Loans
Conventional loans aren't backed by a government agency, follow Fannie Mae and Freddie Mac guidelines, and reward strong credit with the lowest rates and most flexible terms available.
Down: 3% (first-time buyer) or 5% (repeat) · Credit: 620 -
Jumbo Loans
Jumbo loans finance home purchases above the annual conforming loan limit set by the FHFA. They require stronger credit and reserves but offer competitive pricing on luxury and high-cost area properties.
Down: 10%–20% depending on loan size and credit profile · Credit: 700 typical; 740+ for best pricing
Government-Backed
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FHA Loans
FHA loans are insured by the Federal Housing Administration and let you buy with as little as 3.5% down and a 580 credit score, making them a top choice for first-time buyers and credit rebuilders.
Down: 3.5% (with 580+ credit) or 10% (with 500–579 credit) · Credit: 580 (most lenders); 500 with 10% down -
VA Loans
VA loans are guaranteed by the Department of Veterans Affairs and let eligible veterans, active-duty service members, and surviving spouses buy with zero down payment and no monthly mortgage insurance.
Down: 0% · Credit: Most lenders require 580–620; the VA itself sets no minimum -
USDA Loans
USDA loans are backed by the U.S. Department of Agriculture and offer 100% financing for low- to moderate-income buyers in eligible rural and suburban areas.
Down: 0% · Credit: 640 (most lenders)
Investor Loans
Home Equity
Non-QM & Alternative Income
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Bank Statement Loans
Bank statement loans qualify self-employed borrowers using 12 or 24 months of business or personal bank statements instead of tax returns — perfect for owners whose tax returns understate true cash flow.
Down: 10%–20% depending on credit and program · Credit: 660 typical; best pricing at 700+ -
ITIN Loans
ITIN loans let borrowers who file U.S. taxes with an Individual Taxpayer Identification Number — instead of a Social Security number — buy a home. They're a path to homeownership for non-citizen workers and entrepreneurs.
Down: 10%–20% · Credit: Some programs allow no traditional credit; with credit, 620+ -
Non-QM Loans
Non-Qualified Mortgage (Non-QM) loans are designed for borrowers whose income, credit, or property doesn't fit the strict Qualified Mortgage rules — including investors, self-employed, foreign nationals, and recent credit-event borrowers.
Down: 10%–25% depending on program · Credit: 620–680 depending on program (some asset-based programs accept 600)
Refinance
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