Loan Options, Explained

The six programs most buyers consider

Nearly every home loan falls into one of a handful of programs. The differences come down to who backs the loan, how much you need to put down, what credit it takes to qualify, and how mortgage insurance works. Here is the short version of each, with a link to the full breakdown.

Conventional

The most common route. As little as 3% down for well-qualified buyers, and the mortgage insurance is cancellable once you reach 20% equity. Usually the lowest long-term cost for strong credit, and the go-to for second homes and investment properties.

FHA

Government-backed and forgiving. Down payments from 3.5% and credit scores from 580, with a gift-friendly down payment. The trade-off is mortgage insurance that usually stays for the life of the loan, which is why many buyers later refinance into conventional.

VA

For those who have served. Zero down, no monthly mortgage insurance, and strong pricing for eligible veterans and active-duty service members. For most who qualify, it is the clear winner.

Jumbo

For loan amounts above the conforming limit. Stronger credit, a larger down payment, and cash reserves are typical, and because guidelines vary by investor, shopping the loan matters most here.

DSCR / Investor

Built for real estate investors. Qualify on the property's rental cash flow instead of your personal income, close in an LLC, and keep building your portfolio without your debt-to-income capping you.

First-Time Buyer

Not a single program, but a path. Low-down-payment options, gift funds, and down payment assistance, plus step-by-step guidance to get you from "am I ready?" to keys in hand.

How to choose

The honest answer is to compare them side by side for your exact numbers. Credit, down payment, occupancy, and how long you will keep the loan all move the math. Our calculator prices conventional, FHA, and VA instantly at your scenario, and for anything unusual we will walk through it with you. No guessing, no pressure.