A Federal Housing Administration (FHA) loan is a government-backed mortgage option that offers low down payment and flexible qualification criteria, making it accessible to a wide range of borrowers.
A conventional loan is a traditional mortgage not insured or guaranteed by a government agency. It typically requires a higher credit score and a larger down payment compared to FHA loans.
A VA loan is a mortgage option available to eligible veterans, active-duty service members, and some military spouses. It offers favorable terms, such as no down payment and competitive interest rates.
A USDA loan is designed for rural and suburban homebuyers with low to moderate incomes. It is backed by the U.S. Department of Agriculture and offers low or no down payment options.
A HELOC is a revolving line of credit secured by the equity in your home. Borrowers can draw funds as needed, repay, and borrow again during the draw period.
A Federal Housing Administration (FHA) loan is a government-backed mortgage option that offers low down payment and flexible qualification criteria, making it accessible to a wide range of borrowers.
A conventional loan is a traditional mortgage not insured or guaranteed by a government agency. It typically requires a higher credit score and a larger down payment compared to FHA loans.
A VA loan is a mortgage option available to eligible veterans, active-duty service members, and some military spouses. It offers favorable terms, such as no down payment and competitive interest rates.
A USDA loan is designed for rural and suburban homebuyers with low to moderate incomes. It is backed by the U.S. Department of Agriculture and offers low or no down payment options.
A HELOC is a revolving line of credit secured by the equity in your home. Borrowers can draw funds as needed, repay, and borrow again during the draw period.
A jumbo loan is a type of mortgage that exceeds the loan limits set by government-sponsored enterprises. It’s intended for higher-priced properties and usually requires a larger down payment.
A commercial loan is designed for business-related real estate projects, such as purchasing commercial properties, refinancing, or funding property development.
A construction loan provides financing for the construction or renovation of a home. It’s usually short-term and converts to a permanent mortgage once the project is completed.
A renovation loan, such as a 203K loan, enables borrowers to finance both the purchase of a home and the cost of necessary renovations or repairs in a single mortgage.
A reverse mortgage is a loan available to homeowners aged 62 and older, allowing them to convert a portion of their home equity into cash while remaining in their home.
An interest-only loan allows borrowers to pay only the interest on the loan for a certain period, typically 5-10 years, before starting to pay down the principal.