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Types of home loans & mortgage options

Discover the different loan options available and​ find the mortgage that makes the most sense for your​ financial situation. You can also start the process ​now by applying for a mortgage pre-approval.

Which types of loans are available?

Learn more about popular home loan types and find the right mortgage to help you afford your dream home.

Conventional

A conforming loan is a mortgage that is not guaranteed or insured by any government agency, including the Federal Housing Administration (FHA) and Department of Veteran Affairs (VA). Conforming loans meet guidelines such as loan limits that are set by government-sponsored enterprises (GSE), Fannie Mae or Freddie Mac.

FHA Loan

FHA stands for Federal Housing Administration. An FHA loan is insured by FHA provides mortgage insurance on loans on homes. FHA loans are popular among first-time homebuyers because FHA allows down payment as little as 3.5%

VA Loan

VA home loans offer affordable rates and no down payment options for service members.

HELOC

A HELOC (home equity line of credit) is a revolving form of credit with a variable interest rate, similar to a credit card. The line of credit is tied to the equity in your home. It allows you to borrow and repay funds on an as-needed basis during a specified period of time. After that, you’ll pay back the amount you borrowed in installments.

DSCR Loan

A DSCR loan, or Debt Service Coverage Ratio loan, is a type of financing that allows real estate investors to qualify based on the rental income of a property rather than their personal income.​

Reverse Mortgage

Reverse mortgages convert home equity into retirement funds for homeowners 62 & older.

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