Every borrower and every home is different. Understanding the main loan categories helps you choose a structure that aligns with your goals, timeline, and financial position.
Loan programs are tools. Each one is designed to serve a different financial profile or homeownership goal.
Your loan originator will compare options side-by-side and explain the trade-offs clearly so you can make a confident decision.
Conventional loans are among the most common mortgage options and are well-suited for borrowers with stable income and solid credit.
Start My LoanFHA loans are designed to provide more flexibility in qualification standards, particularly for buyers with limited credit history or smaller down payments.
Start My LoanVA loans are available to eligible veterans, active-duty service members, and certain military spouses.
Start My LoanJumbo loans are used for properties that exceed conforming loan limits.
Start My LoanUSDA loans are designed to support homeownership in eligible rural and suburban areas. Can be a strong option for buyers who meet location and income guidelines.
Start My LoanNot sure which loan type applies to you?
A short loan consultation will help clarify your next steps.
Beyond traditional mortgage programs, there are specialized loan structures designed for unique financial situations or property goals. These options are more tailored and may not apply to every borrower.
Construction loans finance the building of a home rather than the purchase of an existing property. Funds are typically released in stages as construction progresses.
Best for: Buyers building a custom home or purchasing new construction before completion.
Interest-only loans allow borrowers to pay only interest for an initial period before principal payments begin.
Best for: Buyers with irregular income, strong cash flow, or short-term ownership plans.
A piggyback loan combines two mortgages at the same time, often to reduce the need for private mortgage insurance (PMI).
Best for: Buyers with strong credit who want to minimize upfront down payment while avoiding PMI.
A balloon mortgage offers lower payments for a set period, followed by a larger lump-sum payment at the end of the term.
Best for: Buyers who plan to sell or refinance before the balloon payment is due.
Physician loans are tailored for medical professionals with high earning potential but limited savings due to education debt.
Best for: Doctors, residents, and medical professionals early in their careers.
A reverse mortgage allows eligible homeowners to convert part of their home equity into cash while remaining in the home.
Best for: Homeowners age 62 or older looking to supplement retirement income.
Not every loan option is right for every borrower. Talk to one of our mortgage experts to find which loan option is right for you.
