What loan best suites you?
The first step to homeownership is finding the right loan product. We have loans available for every homeowner’s situation. Here’s a look at your home options.
Mortgage Basics
| Loan Type | Down Payment | Credit Score | Upfront Fees | Mortgage Insurance |
|---|---|---|---|---|
| Conventional | 3% – 5% | 620+ | No upfront fees | Yes |
| FHA | 3.5% | 500+ | 1.75% MIP | .45% to .80% |
| VA | 0% | 580+ | 0% – 3.6% | None |
| Jumbo | 10% | 680+ | No upfront fees | Yes |
| Non-QM | 10% – 30% | 620+ | No upfront fees | None |
Disclaimer: This chart is intended as a general guide to common mortgage programs. To get the most up to date rates and terms please contact us.
Frequently Asked Questions
Not necessarily, there are low credit score options available to borrowers such as an FHA loan amount other government loans.Â
A hard credit affects your credit score. A soft check does not affect your credit score.
Your debt-to-income ratio is an important part of your overall financial health. Calculating your DTI may help you determine how comfortable you are with a mortgage payment. to calculate you take your monthly debt payments divided by your gross monthly income.
A pre-approval is a letter the lender will send you after they have verified your basic financial and credit standings letting you know what rates and terms you qualify for.Â
What are mortgage points?
Helping You achieve your goals
Ready for your dream home? Request rates or contact us today!
