What Home Loan is Right For You?
LOAN COMPARISON CHART
Helping You Choose From Our Most Popular Loan Products
| LOAN TYPE | LOAN PURPOSE | PROPERTY TYPE | DOWN PAYMENT | CREDIT SCORE MINIMUM |
|---|---|---|---|---|
| HomeReady® Conventional | HomeReady® is a Fanny Mae conventional loan for both non-first-home buyers and first-home buyers with options for as low as 3% down. | 1-Unit or 2-4 Unit* (primary residence only) | Minimum of 3% | 620 |
| HomePossible® Conventional | HomePossible® is a Freddy Mac conventional loan for low-to-moderate income homebuyers purchasing in target areas with options for as low as 3% down. | 1-Unit or 2-4 Unit** (primary residence only) | Minimum of 3% | 620 |
| Conventional 95% | Conventional options for non-first-time homebuyers with a minimum down payment of 5%. | 1-4 Unit (primary residence only) | Minimum of 5% | 620 |
| Standard Conventional (no MI) | Conventional loan products for buyers putting 20% down may prevent the addition of mortgage insurance on the loan | 1-4 Unit (primary or investment homes)
1-Unit (second homes) |
Minimum of 20% | 620 |
| FHA | For both non-first-home buyers and first-home buyers with lower credit scores and down payments, backed by the Federal Housing Administration. | 1-4 Unit (primary residence)
Second homes: Restrictive – must meet FHA guidelines |
Minimum of 3.5% | 580*** |
| USDA | For buyers with low-to-moderate income purchasing in certain rural areas. | Primary residence only | Minimum of 0% | 580 – 680*** |
| VA | Government-based program available to Veterans & Reservists of the U.S. Military offering up to 100% financing of the reasonable value of the home with less restrictive guidelines than conventional loans. | 1-4 Unit (primary residence only) | Minimum of 0% | 580*** |
* with minimum borrower contribution of 3% from their own funds
** Maximum 95% LTV / 95% CLTV
*** Please see your Loan Officer for more information on credit scores
Take out the loan that best fits you and your family, and build the life you’ve always imagined.
