Home Loans & Mortgage Financing
Whether you're purchasing your first home, upgrading to a larger property, or refinancing to a better rate, we connect you with the right mortgage program and lender for your situation.
Home Loan Programs
Different loan programs serve different borrowers. Here's an overview of the most common mortgage types and who each one is best suited for.
Conventional Loan
The most common home loan type, not backed by a government agency. Ideal for borrowers with good credit and at least 3–5% down. Private mortgage insurance (PMI) required below 20% down.
FHA Loan
Backed by the Federal Housing Administration, FHA loans allow lower credit scores and smaller down payments. A great option for first-time homebuyers or those rebuilding credit.
VA Loan
Exclusively available to eligible veterans, active-duty service members, and surviving spouses. VA loans require no down payment and no private mortgage insurance — one of the best loan programs available.
USDA Loan
Offered through the U.S. Department of Agriculture for eligible rural and suburban properties. USDA loans require no down payment and offer competitive interest rates for income-qualified buyers.
Jumbo Loan
For home purchases that exceed the conforming loan limit set by Fannie Mae and Freddie Mac. Jumbo loans require stronger credit, larger reserves, and typically a 10–20% down payment.
Purchase vs. Refinance
Understanding your goals will determine which type of mortgage makes sense for you.
Home Purchase
A purchase mortgage is used to buy a home you don't yet own. Your down payment, credit score, income, and debt-to-income ratio all influence what programs and rates you qualify for. Pre-approval is recommended before you begin home shopping.
Benefits
- Build equity and net worth over time
- Fixed payments provide long-term stability
- Freedom to renovate and personalize
- Potential tax deductions on mortgage interest
- Protection against rising rent costs
Key Considerations
- →Down payment and closing costs required upfront
- →Responsible for maintenance and repairs
- →Property values can fluctuate
- →Less flexibility to relocate quickly
Refinancing
Refinancing replaces your existing mortgage with a new one — ideally at a lower rate or with better terms. A rate-and-term refinance lowers your payment; a cash-out refinance lets you access home equity for home improvements, debt payoff, or other needs.
Benefits
- Lower your interest rate and monthly payment
- Shorten your loan term to pay off faster
- Access home equity via cash-out refinance
- Switch from ARM to fixed-rate for stability
- Remove PMI once you reach 20% equity
Key Considerations
- →Closing costs typically 2–5% of loan amount
- →Resets your loan term (unless shortening)
- →Must qualify with current income and credit
- →Break-even analysis needed to confirm savings
Key Mortgage Concepts
Understanding these fundamentals will help you choose the right loan and negotiate better terms.
Loan-to-Value (LTV)
LTV is the ratio of your loan amount to the appraised value of the home. A lower LTV means better rates. Aim for 80% or below to avoid PMI on conventional loans.
Private Mortgage Insurance (PMI)
PMI is required on conventional loans when your down payment is less than 20%. It typically costs 0.5%–1.5% of the loan amount annually and can be removed once you reach 20% equity.
Down Payment Requirements
Down payments range from 0% (VA, USDA) to 3% (conventional, FHA) to 20%+ for jumbo loans. A larger down payment reduces your loan amount, monthly payment, and overall interest paid.
Ready to Explore Your Mortgage Options?
Whether you're buying, refinancing, or just exploring, our team will help you find the best rate and program for your situation.
Get Your Mortgage Quote
Free, no-obligation quote. We compare programs from multiple lenders on your behalf.