Loan Types

  • Conventional:
    A conventional loan is a mortgage loan that is not backed by any government program, such as the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA) or the Department of Agriculture (USDA).
  • FHA:
    The Federal Housing Administration (FHA) is a U.S. government agency that provides mortgage insurance to lenders, backing them in case borrowers default on their mortgage payments.
  • VA:
    A VA loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs (VA). The program is for American veterans, military members currently serving in the U.S. military, reservists and select surviving spouses (provided they do not remarry) and can be used to purchase single-family homes, condominiums, multi-unit properties, manufactured homes and new construction.
  • Down Payment Assistance:
    Down payment assistance programs are designed to help first-time homebuyers with little to no money down when purchasing a home. These types of programs are offered through state housing finance agencies (HFAs), local governments, nonprofit organizations and some private lenders.
  • Low Doc Loans:
    A low doc loan is a loan where borrowers are not required to provide full documentation of their income and assets. This type of loan is typically available to self-employed borrowers or borrowers who have difficulty verifying their income.
  • Jumbo:
    A jumbo loan is a mortgage loan that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). Jumbo loans are available in both fixed-rate and adjustable-rate mortgage (ARM) programs.