Discover home loans that fit your situation.
Which Kind of Loan Fits You?
You probably know that toy bricks come in different shapes and sizes. The same concept can be applied to home loans. These different types of home loans can suit various situations and are designed for individuals depending on background, finances and preference. When you reach out, (see our process) we can help you decide which loan works for your situation.
Kinds of Loan Programs:
Purpose: This is a government-backed loan that, while it does require the purchase of mortgage insurance, makes it easier to get a home loan.
Pros: Has a lower down payment and credit score requirements than conventional loans. That makes up-front costs a lot easier to afford.
Purpose: Available for military service members and/or spouses to take advantage of provided you meet the eligibility guidelines
Pros: No money down for the down payment and no mortgage insurance required is a big advantage to using this loan program
Purpose: Available within qualified rural areas (see map to see if you qualify) for eligible residents.
Pros: USDA Loans are great for a lower or no up-front down payment
Purpose: Your standard home loan that can require a minimum of 5% down or a minimum of 20% down if you don’t want to purchase mortgage insurance.
Pros: You generally can get slightly more competitive rates from this kind of loan than a government-backed loan – provided that your credit, debt-to-income ratio and other factors are in order.
Purpose: Loan amounts over $417,000 for highly qualified borrowers
Pros: Great for financing high-end properties
Purpose: For borrowers 62 years and older who want to access the equity in their home and no longer have a monthly mortgage payment
Pros: Receive a lump sum payment or have access to a credit line