Mortgage programs, made clearer.

Conventional Loans

Conventional mortgages are not insured by the FHA or guaranteed by the VA. Depending on the loan and borrower qualifications, they may offer different down payment, mortgage insurance, and term options.

Qualification generally considers credit, income, assets, property, and existing debt obligations.

FHA Loans

FHA-insured loans can be an option for qualified homebuyers. These programs have specific borrower, property, and mortgage insurance requirements.

FHA loans are not automatically the lowest-cost choice. Comparing total financing costs and eligibility across available programs is important.

VA Loans

VA-backed mortgage benefits may be available to eligible veterans, active-duty service members, and certain surviving spouses. Eligibility and underwriting requirements apply.

Some borrowers may qualify for financing without a down payment. Closing costs, funding fees, and other conditions may still apply.

Jumbo Loans

Jumbo financing generally refers to mortgage amounts above applicable conforming loan limits. Requirements can vary by loan program and lender.

Higher loan amounts may involve additional documentation, reserve, credit, and property requirements.

Non-QM Loans

Non-Qualified Mortgage (Non-QM) programs may offer alternative ways to document qualifying income or evaluate borrowers whose circumstances do not fit standard conventional mortgage guidelines.

Depending on the program, options may include bank statement documentation for self-employed borrowers, debt-service coverage ratio (DSCR) loans for investment properties, and asset-based qualification.

Non-QM does not mean no qualification. Credit, assets, property requirements, applicable ability-to-repay rules, and program-specific underwriting standards still apply.

Home Equity & HELOC

Home equity financing may allow qualifying homeowners to access a portion of the equity in their property. A home equity line of credit (HELOC) is a revolving line of credit secured by the home.

Homeowners may explore these products for home improvements, major expenses, or other financial needs. Many HELOCs have variable interest rates, so payments may change over time.

Eligibility depends on equity, credit, income, and property requirements. Because your home serves as collateral, failure to repay could result in foreclosure.

Mortgage Refinancing

Refinancing replaces an existing mortgage with a new loan. Homeowners may explore refinancing to change loan terms, adjust monthly payments, or access available home equity, subject to qualification.

Refinancing can involve closing costs and may increase total interest paid, particularly when extending the repayment term.