Find the program that fits your situation.

Conventional loans follow lender and agency guidelines rather than being insured by a government agency. They can offer competitive pricing and several down-payment options for qualified borrowers.

• Down payments may start as low as 3% for eligible borrowers
• Fixed-rate and adjustable-rate options are available
• May be used for primary, second-home and investment purchases
• Private mortgage insurance is generally not required at 80% loan-to-value or below

FHA loans are insured by the Federal Housing Administration and are commonly used by buyers who need a smaller down payment or more flexible credit and debt-to-income guidelines.

• Down payments may start at 3.5% for eligible borrowers
• Gift funds and eligible seller contributions may help with closing costs
• Available for qualifying one- to four-unit primary residences
• Streamline and cash-out refinance options may be available

VA loans are guaranteed by the Department of Veterans Affairs and can provide favorable financing for eligible borrowers purchasing or refinancing a primary residence.

• No down payment may be required, subject to eligibility and entitlement
• No monthly private mortgage insurance
• Flexible credit and debt-to-income evaluation
• Purchase, cash-out and Interest Rate Reduction Refinance Loan options

USDA financing may help eligible borrowers purchase a primary residence in an approved rural area with no down payment.

• Property and household-income eligibility requirements apply
• Designed for qualifying primary residences
• Seller contributions and eligible gift funds may be permitted
• Fixed-rate financing with program-specific guarantee fees

State, county and lender-supported programs may provide grants, forgivable assistance or repayable second liens for qualified homebuyers.

• First-time-buyer and repeat-buyer options may be available
• Income, credit, occupancy and homebuyer-education rules vary
• May be paired with certain conventional or government loans
• Assistance terms should be compared with the cost of a standard loan

Jumbo loans are designed for higher loan amounts and typically receive a more detailed review of income, assets, credit and reserves.

• Fixed-rate and adjustable-rate choices may be available
• Primary residence, second-home and investment options vary by lender
• Reserve and down-payment requirements depend on the full scenario
• Multiple lender programs can be compared for the best fit

A Debt Service Coverage Ratio loan typically compares qualifying rental income with the property's housing expense rather than relying primarily on the borrower's personal debt-to-income ratio.

• Select purchase programs may allow as little as 15% down
• Options may be available below a 1.00 DSCR or with no minimum ratio
• Personal tax returns and W-2s may not be required
• Purchase, rate-and-term and cash-out options may be available

Non-QM programs can evaluate income using documentation that better reflects how a self-employed borrower actually earns and manages money.

• Personal or business bank-statement programs
• Profit-and-loss, 1099 and asset-depletion options
• One-year tax-return programs may be available
• Pricing, reserves and down payment vary by documentation type

A reverse mortgage may allow an eligible homeowner to convert a portion of home equity into funds without making a required monthly principal-and-interest payment.

• The home must generally remain the borrower's primary residence
• The borrower must continue paying taxes, insurance and property charges
• Available proceeds depend on age, property value and current rates
• The balance becomes due after a maturity event such as sale or permanent move-out

A closed-end second mortgage or home equity line of credit can provide access to equity for renovations, debt consolidation or other qualified needs.

• Keep the existing first mortgage in place
• Choose between a lump-sum second loan or a revolving line of credit
• Fixed and variable-rate structures may be available
• Approval and available credit depend on equity, income and credit