The right loan is rarely the first loan you hear about. Between conventional, government-backed, and specialty programs, there are at least a dozen real paths to a closing — and the difference between them can mean tens of thousands of dollars over the life of the loan.
What follows is the working menu. Most clients land in one of the first three categories. The rest exist for very specific situations, and we'll know within the first conversation whether one applies to you.
Not insured or guaranteed by the government, allowing more flexible terms. Down payments as low as 3%. Lender requires PMI if down payment is under 20%. Terms typically 10 to 30 years.
Same monthly payment for the life of the loan. The default option for most homebuyers who want predictability and the lowest possible monthly payment over a longer term.
Pay off the loan in half the time, build equity faster, and pay less total interest. Higher monthly payment but typically a lower interest rate than 30-year terms.
Fixed interest rate for an initial period (typically 5, 7, or 10 years), then adjusts annually. Often makes sense for buyers who plan to move or refinance before the adjustment period begins.
Insured by the Federal Housing Administration. Lower down payment and more flexible credit requirements make it a common path for first-time buyers and those rebuilding credit.
For active-duty service members, veterans, and qualifying surviving spouses. No down payment required, no monthly mortgage insurance, and typically lower rates than conventional loans.
Backed by the U.S. Department of Agriculture for properties in eligible rural and suburban areas. No down payment required for qualifying borrowers. Income limits apply.
A single loan that combines the purchase price and the cost of renovating a home. Ideal for buyers seeking fixer-uppers or homes that need significant repair to be livable.
For loans that exceed the conforming loan limit ($806,500 in most areas, $1,209,750 in high-cost areas like Los Angeles). Often required for luxury homes and high-cost markets.
For borrowers who don't fit standard underwriting boxes — self-employed with complex returns, real-estate investors using rental income, or those needing bank-statement-only qualification.
Finances the cost of building a new home from the ground up. Funds disburse in stages as construction progresses, then converts to a permanent mortgage upon completion.
For homeowners aged 62 or older. Converts home equity into cash with no monthly mortgage payments. Loan repays when the home is sold, vacated, or the borrower passes away.
Replace your existing mortgage with a new one at a lower interest rate, a different term, or both. Makes sense when current rates are materially below your existing rate.
Replace your mortgage with a larger one and receive the difference in cash. Use the funds for home improvements, debt consolidation, or other major expenses.
Home Equity Line of Credit. Borrow against your home's equity as needed during a draw period, with interest charged only on what you actually use. Variable-rate.
Finance energy-efficient improvements as part of a purchase or refinance. Can finance up to 115% of the home's future appraised value, with possible utility savings to offset costs.
Pick the path that fits your situation. We'll narrow it down together — most clients are in the right program within the first call.