Our most popular loan for borrowers who qualify. Conventional loans offer more flexibility and options, but typically require a higher credit score and down payment.
Loan Type | Min. Down Payment | Credit Score Requirement | Loan Limit | Primary Use | Mortgage Insurance Required | Unique Features |
---|---|---|---|---|---|---|
Conventional | 3%-20% | 600+ | Conforming limits | Primary, secondary, investment | If less than 20% down | Flexible terms, various loan types |
Jumbo | 10%-20% | 660+ | Exceeds conforming limits | High-value properties | No | Stricter qualifications for high-value homes |
FHA | 3.50% | 540+ or 580+ manual |
FHA limits by county | Primary residences | Yes | Low down payment, flexible credit |
VA | 0% | 540+ or 580+ manual |
VA limits by entitlement | Veterans, service members | No | No down payment, no PMI |
USDA | 0% | 640+ | USDA limits by area | Rural properties | No | No down payment, rural eligibility |
HELOC | Varies | Good to Excellent | Varies by equity | Equity access | No | Revolving credit line based on home equity |
DPA | Varies | Varies | Varies | Down payment assistance | No | Assists with down payments |
DSCR | Varies | Varies | Varies by property income | Investment properties | No | Focus on rental income for qualification |
Bank Statement | Varies | 600+ | Varies | Self-employed borrowers | No | Income verified through bank statements |
Construction | Typically 20% | Good to Excellent | Varies by project | Home construction | No | Covers cost of building new homes |