We firmly believe that the best way to handle mortgages is for the borrower to be actively involved in the process every step of the way. From choosing between loan programs to understanding negotiating terms, we're here to help you with anything you need.
Below are some of the most commonly utilized loan programs we offer...
Your Quick Guide to Home Loans
Loan Type | Conventional | FHA | VA | USDA | Jumbo |
Loan Limit* | $726,200 ($1,089,300 in high-cost areas) | $472,030 ($1,089,300 in high-cost areas) | No limit on loans over $144,000** | Dependent on county | $3,000,000 |
Loan Type | Fixed-rate, ARM, LPMI, HomeReady, HomePossible | Fixed-rate, 5/1 ARM | Fixed-rate, 5/1 ARM | Fixed-rate | Fixed-rate, ARM, Interest-only |
Down Payment | Flexible | Minimal | Low-to-none† | Low-to-none † | Dependent on program |
Seller Contribution | Based on LTV | Up to 6% | Up to 4% | Up to 6% | Up to 3% |
Gift Funds Allowed | Yes | Yes | Yes | Yes | Minimum 5% personal funds |
Credit Score | 620+ | 500+ | 580+ | 640+ | 680+ |
Occupancy | Owner-occupied, second home, investments | Owner-occupied | Owner-occupied | Owner-occupied | Owner-occupied, second home, investments |
Debt-to-income Ratio1 | 50% | 50% | 50% | 50% | 38% – 43% depending on LTV |
Cash Reserves | Determined by underwriting | Generally not required | Generally not required | Not required | 6 – 18 months |
Eligible Borrowers | US citizen, permanent and non-permanent resident alien – Must have valid SSN | US citizen, permanent and non-permanent resident alien – Must have valid SSN | Eligible veterans and their dependents | US citizen, permanent and non-permanent resident alien – Must have valid SSN | US citizen, permanent and non-permanent resident alien – Must have valid SSN |
Mortgage Insurance | PMI possible depending on down payment | Upfront funding fee and monthly MIP | Funding Fee and No MIP | Guarantee fee and monthly MIP | PMI possible depending on down payment |
*May be higher in some scenarios. **Dependent on available entitlement. † Closing costs and fees may still apply. 1DTI requirements may differ depending on credit score and underwriting approval.