Home Loan Programs
Conventional Loans
Conventional Loans are mortgage loans that are not insured by the government (like FHA, VA, USDA Loans), but they typically meet the lending guidelines that have been set by Fannie Mae or Freddie Mac. Typically, conventional loans have better rates, terms and/or lower fees than other types of loans. However, conventional loans typically require a borrower to have good-to-excellent credit, reasonable amounts of monthly debt obligations, a down payment of 5-20% and reliable monthly income. Conventional loans are ideal for borrowers with excellent credit and at least a 5% down payment.
FHA Loans
It's easy to understand why many people looking for a new home are turning to FHA insured loan programs. Because FHA Loans are insured by the Federal Housing Administration homebuyers have an easier time qualifying for a mortgage. Those who typically benefit most by an FHA loan are first-time home buyers and those who have less than perfect credit.
USDA Loans
A USDA Loan is a mortgage loan that is insured by the US Department of Agriculture and available to qualified individuals who are purchasing or refinancing their home loan in an area that is not considered a major metropolitan area by USDA.
VA Loans
A VA loan is a mortgage loan guaranteed by the U.S. Department of Veteran Affairs (VA) that is available to most US service members. It offers some very great benefits to those that have served our country.
Bank Statement
A bank statement loan is a type of mortgage designed for self-employed individuals or business owners who may not have traditional income documentation like W-2s or tax returns. Instead, lenders use 12–24 months of personal or business bank statements to verify income and assess the borrower’s ability to repay. This flexible option helps qualify borrowers based on actual cash flow rather than reported taxable income.
DSCR Loans
A DSCR (Debt Service Coverage Ratio) loan is a type of mortgage designed for real estate investors, where loan approval is based on the property’s cash flow rather than the borrower’s personal income. Lenders evaluate whether the rental income from the property can cover the loan payments, using a ratio typically above 1.0. This makes DSCR loans ideal for investors looking to qualify based on the strength of the investment property itself.
