Loan Programs
Find the Loan That Fits.
Open any program to see what it is, who it is for and how it works. Each one links to the documents you will need to apply.
Purchase
Conventional
For buyers with established credit and steady income.
What It Is
A conventional loan is a mortgage that is not backed by a government agency. It follows Fannie Mae and Freddie Mac guidelines and is the most widely used loan for buying a home.
Best for: Buyers with established credit and steady income.
Highlights
- Flexible down payment options
- Mortgage insurance can be removed as equity builds
- Primary homes, second homes and investment property
Typical Profile
- Credit generally 620 or higher
- Two-year history of steady income
- Loan amount within the conforming limit
FHA
For first-time buyers, smaller savings or credit that is still being built.
What It Is
An FHA loan is insured by the Federal Housing Administration. The insurance lets lenders accept smaller down payments and more flexible credit than most conventional loans.
Best for: First-time buyers, smaller savings or credit that is still being built.
Highlights
- Low down payment program
- More flexible credit guidelines
- Gift funds and seller help with closing costs allowed
Typical Profile
- Home will be your primary residence
- Credit generally 580 or higher
- Property meets FHA condition standards
- Upfront and monthly mortgage insurance apply
VA
For eligible veterans, active-duty service members and qualifying surviving spouses.
What It Is
A VA loan is guaranteed by the U.S. Department of Veterans Affairs. It is a home loan benefit earned through military service.
Best for: Eligible veterans, active-duty service members and qualifying surviving spouses.
Highlights
- Uses your VA home loan benefit
- No monthly mortgage insurance
- Limits on closing costs charged to the veteran
Typical Profile
- Valid Certificate of Eligibility
- Home will be your primary residence
- VA funding fee applies unless exempt
Jumbo
For homes priced above the conforming loan limit.
What It Is
A jumbo loan is for loan amounts above the conforming limit set each year by the FHFA. Lenders apply stronger credit and reserve standards because the loan is larger.
Best for: Homes priced above the conforming loan limit.
Highlights
- Finance higher-priced homes in one loan
- Primary and second homes
- Fixed and adjustable options
Typical Profile
- Credit generally 700 or higher
- Strong cash reserves after closing
- Well-documented income and assets
Refinance
Rate & Term
For owners who want a different rate or loan term without taking cash out.
What It Is
A rate and term refinance replaces your current mortgage with a new one to change the interest rate, the length of the loan or the loan type.
Best for: Owners who want a different rate or loan term without taking cash out.
Highlights
- Change your rate, term or loan type
- Move from an adjustable to a fixed rate
- Remove a co-borrower, where allowed
Typical Profile
- On-time mortgage payments for the past year
- Sufficient equity in the home
- Income that supports the new payment
Cash-Out
For owners who want to turn home equity into cash.
What It Is
A cash-out refinance replaces your mortgage with a larger loan. You receive the difference in cash at closing.
Best for: Owners who want to turn home equity into cash.
Highlights
- Replace your mortgage with a larger loan
- Use funds for renovations, debt payoff or other goals
- One loan and one payment
Typical Profile
- Owned the home for at least six months
- Meaningful equity remaining after the cash-out
- Credit generally 620 or higher
HELOC
For owners who want access to equity while keeping their current mortgage.
What It Is
A home equity line of credit is a second loan secured by your home. It works like a credit line you draw on when you need it.
Best for: Owners who want access to equity while keeping their current mortgage.
Highlights
- Line of credit you draw on as needed
- Interest charged only on what you use
- Keeps your existing first mortgage in place
Typical Profile
- Equity remaining across both loans
- Good credit and payment history
- Income that supports both payments
Streamline
For owners who already have an FHA or VA loan.
What It Is
A streamline refinance lets FHA and VA borrowers refinance into a new FHA or VA loan with less paperwork, as long as the new loan benefits the borrower.
Best for: Owners who already have an FHA or VA loan.
Highlights
- Reduced paperwork
- Often no appraisal required
- Must lower your payment or improve your loan
Typical Profile
- Current FHA or VA loan
- On-time payments on that loan
- Loan has been in place for at least seven months
Investment
DSCR
For investors who want to qualify on the property’s rent, not personal income.
What It Is
A DSCR loan, short for debt service coverage ratio, qualifies you based on whether the property’s rent covers its mortgage, taxes and insurance. Your personal income is not used.
Best for: Investors who want to qualify on the property’s rent, not personal income.
Highlights
- No personal income documents or tax returns
- Close in your name or your LLC
- Single-family and 2–4 unit rentals
Typical Profile
- Investment property only, not owner-occupied
- Rent covers the property’s monthly costs
- Credit generally 660 or higher
- Cash reserves after closing
Second Homes
For a vacation home or a home you use part of the year.
What It Is
A second home loan finances a one-unit home you live in for part of the year, in addition to your primary residence.
Best for: A vacation home or a home you use part of the year.
Highlights
- Terms closer to a primary home than an investment property
- Conventional and jumbo options
- Personal use with limited occasional rental
Typical Profile
- One-unit home you will occupy part of the year
- Not rented full-time or managed as a rental
- Income that supports both homes
Investment Properties
For investors who qualify with documented personal income.
What It Is
An investment property loan finances a rental home using your documented personal income, with rental income counted toward qualifying.
Best for: Investors who qualify with documented personal income.
Highlights
- Single-family and 2–4 unit rentals
- Rental income can help you qualify
- Purchase and refinance
Typical Profile
- Credit generally 620 or higher
- Larger equity stake than a primary home
- Cash reserves for each financed property
Portfolio Financing
For borrowers who don’t fit standard guidelines, including the self-employed and experienced investors.
What It Is
Portfolio loans are held by the lender instead of being sold to Fannie Mae or Freddie Mac, so the lender can set more flexible guidelines.
Best for: Borrowers who don’t fit standard guidelines, including the self-employed and experienced investors.
Highlights
- Loans held by the lender, with flexible guidelines
- Bank statement income in place of tax returns
- Options for multiple properties and unique homes
Typical Profile
- Self-employed or with income that is hard to document
- Investors growing a larger portfolio
- Each file reviewed on its own merits
Not sure which program fits?
Tell us about your plans and we’ll match you with the right loan.
Program descriptions and documents are general and for information only. They are not a commitment to lend. All loans are subject to credit approval, underwriting, property eligibility and program guidelines, which may change without notice. Additional documents may be requested.