Comprehensive Home Financing Solutions
The information provided in this chart is for general informational purposes only and is subject to change without notice. Loan program requirements, including minimum down payments, credit score guidelines, and eligibility criteria, may vary by lender and are subject to underwriting approval. Additional conditions and restrictions may apply. Please consult with a licensed mortgage professional to confirm current loan program details and qualification requirements.
| FHA | 3.5% | 580+ | First-time buyers, low credit | Low down payment, flexible credit requirements |
| Conventional | 3%-20% | 620+ | Buyers with good credit, larger down payments | Flexible terms, lower mortgage insurance with 20% down |
| DSCR | 15%-25% | Varies, 620+ preferred | Real estate investors | No income verification, based on rental income |
| One-Time Close | Varies (as low as 0% for VA/USDA) | 620+ | Buyers building a home | Single loan for construction & mortgage, one closing |
| Down Payment Assistance | 0%-3.5%+ | Varies | First-time or low- income buyers | Grants or loans for down payment & closing costs |
| USDA | 0% | 640+ | Rural homebuyers | No down payment low mortgage insurance |
| VA | 0% | 580-620+ (varies by lender) | Veterans & active-duty military | No down payment, no PMI, competitive rates |
| Non-QM | 10%-25% | Flexible | Self-employed unique income situations | Alternative income documentation allowed |
| Bank Statement Loans | 10%-25% | 600+ | Self-employed borrowers | Uses bank statements instead of tax returns for income verification |
| Interest-Only Loans | 10%-20% | 700+ | High-income earners expecting future growth | Lower initial payments for a set period |
| 203(k) Rehab Loans | 3.50% | 580+ | Buyers purchasing fixer-uppers | Funds both purchase & renovation in one loan |
| HELOC | N/A | 620+ | Homeowners needing flexible funds | Borrow as needed against home equity |
| Reverse Mortgages | N/A | 620+ | Homeowners 62+ | Access home equity without monthly mortgage payments |
