Available in 30-, 25, 20-, and 15-year terms, these loans follow Fannie Mae and Freddie Mac guidelines.

Down Payment Options:
• 3% down for first-time buyers purchasing a 1-unit primary residence
• 5% down for 2–4 unit primary residences

Pros:
• Competitive interest rates
• Can avoid PMI with 20% down
• Lower down payment options for first-time buyers and multi-unit owners

Cons:
PMI required if putting less than 20% down

Affordable conventional programs for low-to-moderate income borrowers.

Pros:
• 3% Downpayment
• Reduce PMI
• Flexible income sources allowed

Cons:
• Income limits by area

Backed by the Federal Housing Administration. Great for first-time buyers or those with less-than-perfect credit.

Pros:
• 3.5% down payment
• Flexible guidelines
• Allows gift funds

Cons:
• Mortgage insurance is required
• Loan limits vary by area

For eligible veterans, active military, and some spouses.

Pros:
• $0 down
• No PMI
• Competitive rates

Cons:
• Limited to eligible borrowers
• VA funding fee may apply

For loan amounts above conforming limits (varies by county).

Pros:
• Higher loan amounts
• Ideal for luxury or high-cost areas

Cons:
• Requires strong credit/income/reserves

Finance home improvements and purchase in one loan.

Programs Include:
• FHA 203(k) (Full and Streamline)
• Fannie Mae HomeStyle®
• VA Renovation Loans

Pros:
• One loan for purchase and renovation
• Low down payment options
• Great for fixer-uppers

Cons:
• Extra steps and inspections
• Must use approved contractors

Debt Service Coverage Ratio loans based on property income—not personal income.

Pros:
• No income documentation required
• Qualify based on rental income
• Great for growing rental portfolios

Cons:
• Higher interest rates
• Larger down payments required

For business owners and independent contractors who may not qualify using traditional income documentation.

Types included:
• Bank Statement Loans (personal or business accounts)
• 1099-Only Programs
• Profit & Loss (P&L)-Based Loans

Pros:
• No tax returns needed
• Designed for entrepreneurs and gig workers
• Multiple documentation options

Cons:
• Higher interest rates
• May require reserves or larger down payments

Tailored programs and guidance to make your first purchase smooth and successful.

Often Includes:
• Lower down payment options (as little as 3%)
• Down payment assistance eligibility
• Reduced PMI programs
• Homeownership education resources

Pros:
• Designed to make homeownership more accessible
• Often lower upfront costs
• Personalized support and education

Cons:
• May require education course
• Income/purchase price limits may apply

Interest rate is fixed for a set period, then adjusts.

Pros:
• Lower initial rate
• Ideal if you plan to move/sell in a few years

Cons:
• Rate can increase
• Less predictable long-term

Location-specific programs offering grants or forgivable loans for down payment or closing costs.

Pros:
• Can reduce upfront cash needed
• Many don’t require repayment
• Available to both first-time and repeat buyers

Cons:
• Income or purchase price limits may apply
• Some programs have longer closing timelines