Loan Types
Which loan is right for you?
Our loan officers will help you compare options based on your credit score, income and assets, down payment and long-term goals.
A Homebuyer's Guide to Loan Programs and Down Payment Assistance Options
Here's what you need to know to make homeownership more accessible.
Read More
FAQs About Types of Home Loans
What is the difference between a conventional loan and a government-backed loan?
Conventional loans are not insured by the government and typically require higher credit scores and larger down payments. Government-backed loans—like FHA, VA, and USDA loans—are insured by federal agencies and often have more flexible credit and down payment requirements.
Who qualifies for an FHA loan?
FHA loans are ideal for first-time buyers or those with lower credit scores. You typically need a credit score of 580+ and a down payment of at least 3.5%. Other factors, like income and debt-to-income ratio, also apply.
More from HUD on FHA Loans
Do VA loans require a down payment?
No. VA loans offer 100% financing for eligible veterans, active-duty service members, and certain surviving spouses. That means no down payment is required in most cases.
More from VA.gov on VA Home Loans
Can I get a USDA loan if I live in a suburb?
Possibly. Many suburban and rural areas qualify for USDA loans. These loans are meant to support low-to-moderate income buyers in eligible locations.Check USDA Eligibility
What is a jumbo loan and when would I need one?
A jumbo loan is a mortgage that exceeds the limits set by Fannie Mae and Freddie Mac. You’d need a jumbo loan if you’re purchasing a high-value home or a property in a high-cost housing market.
View Current Conforming Loan Limits
Should I choose a fixed-rate or adjustable-rate mortgage?
A fixed-rate mortgage locks in your rate and payment for the life of the loan, which is great for stability. An adjustable-rate mortgage (ARM) starts with a lower rate that adjusts over time—ideal if you plan to sell or refinance within a few years.
What loan types are best for first-time homebuyers?
FHA loans are popular among first-time buyers due to their low down payment and easier credit requirements. VA and USDA loans are also excellent if you qualify. Conventional loans are great if you have a stronger credit and income profile.
Do I need to find a house before choosing a mortgage lender?
No — in fact, many buyers choose to get pre-approved before they even start house hunting. Getting pre-approved early helps you understand your budget, estimate your monthly payment, and shop with confidence. It can also make your offer stronger when you find the right home, since sellers know you’ve already taken important financial steps with a trusted lender.
Do you offer bridge loans?
At this time, we do not offer bridge loans. However, our team can help you explore other financing options that may fit your situation and guide you through the best path forward for buying and selling a home.