FHA Loans, insured by the Federal Housing Administration, offer easier access and affordability, making them an excellent option for first-time homebuyers. FHA loans offer a path to homeownership for borrowers with a less-established credit history and little savings for a down payment. These mortgages, backed by the Federal Housing Administration, have more forgiving financial requirements than conventional loans – you may be able to qualify with a credit score of 580 or lower and as little as 3.5% down. As a result of their lenient eligibility criteria, FHA loans require mortgage insurance that's paid through an up-front fee, as well as over time in monthly installments. The mortgage insurance fee due at closing is 1.75% of the total loan amount, and it may be rolled into the loan. Monthly FHA mortgage insurance payments are between 0.15% and 0.75% of the loan amount. Some borrowers may be able to reduce their mortgage insurance premiums once their loan-to-value ratio hits 20%. But if you folded the up-front mortgage insurance premium into your loan, payments are required for the duration of the mortgage.
‍Pros: low down-payment and lenient credit score requirements
‍Cons: up-front mortgage insurance premium and ongoing monthly mortgage insurance

VA loans are no-down-payment mortgages available to qualifying veterans and military personnel. Since these loans are insured by the Department of Veterans Affairs, lenders don't require borrowers to pay mortgage insurance, and VA loans often come with lower interest rates than other types of home loans.

Instead, VA mortgages come with a one-time VA funding fee ranging from 1.25% to 3.3% of the total loan amount, depending on the amount of your down payment as well as how many times you've used a VA loan in the past.

To qualify for a VA loan, you must provide your lender with a Certificate of Eligibility, or COE, to prove you've met the military service requirements to participate in this program. The lender will also consider your credit score and debt-to-income ratio to determine your eligibility for a VA loan.

Financing for High-Value Properties, Jumbo Loans are designed for loan amounts exceeding conventional limits, making them ideal for purchasing high-value properties. Jumbo Loans are conventional loans that exceed the conforming loan limit set by the Federal Housing Finance Agency. For 2025, the national baseline limit increased to $806,500 due to rapid home price appreciation. Compared with a conforming loan, jumbo loans can be harder to qualify for due to the large borrowing amount. Jumbo loan lenders have stricter requirements for a borrower's down payment, debt-to-income ratio These home loans also typically come with higher mortgage rates.
‍Pros: higher loan amounts
‍Cons: strict eligibility requirements, expensive to repay

If you're buying a home that needs urgent repairs, you may consider borrowing a rehabilitation home loan. This type of mortgage, also known as a fixer-upper loan, includes the purchase price of the home, as well as extra funds to cover the cost of certain renovations. This loan gives buyers a way to fix up aging houses while building their own home equity. You can finance:
Corrections of deferred maintenance
A kitchen remodel
Creating an open floor plan
Foundation repairs
Room additions
Bathroom remodel
Updates to old plumbing or septic Repair of driveways and sidewalk

US hombuyers in designated rural areas with a population of less than 35,000. They are either directly funded or backed by the U.S. Department of Agriculture, and they require as little as 0% down.USDA direct loans are given to low-income borrowers based on the median area income, offering interest rate subsidies that can greatly reduce the cost of borrowing. USDA-guaranteed loans are funded by a private lender, while the USDA insures 90% of the mortgage amount against default. Both options allow borrowers to bypass a down payment requirement, but some types of USDA-backed loans from private lenders require mortgage insurance.U are reserved for homebuyers in designated rural areas with a population of less than 35,000. They are either directly funded or backed by the U.S. Department of Agriculture, and they require as little as 0% down.USDA direct loans are given to low-income borrowers based on the median area income, offering interest rate subsidies that can greatly reduce the cost of borrowing. USDA-guaranteed loans are funded by a private lender, while the USDA insures 90% of the mortgage amount against default. Both options allow borrowers to bypass a down payment requirement, but some types of USDA-backed loans from private lenders require mortgage insurance.
‍Pros: no down payment required, flexible credit score requirements.
‍Cons: mortgage insurance required, limited to homes located in rural areas.

Home Equity for Seniors, Reverse Mortgages allow seniors aged 62 and older to convert home equity into cash with no monthly mortgage payments. As a senior, age 62 or older, a reverse mortgage enables you to tap into the equity of your home and benefit financially today!
The funds you receive can be used to eliminate your monthly mortgage payment, pay off debt, increase your monthly cash flow, or any other way you see fit. With a reverse mortgage, you retain ownership of your home for as long as you own it. In fact, just like a homeowner, you are still responsible for taxes, insurance, upkeep and HOA dues. Homeowners have often used a Home Equity Conversion Mortgage (HECM) loan - commonly known as a reverse mortgage - to pay off their mortgage and improve their overall monthly cash flow
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