Mortgage Products

A purchase loan helps a borrower buy a home and is evaluated through income, assets, credit, property, occupancy, down payment, and program-specific rules.

A refinance replaces an existing mortgage with a new loan structure and should be evaluated by purpose, costs, payment change, equity, timeline, and break-even logic.

A cash-out refinance replaces the existing mortgage with a new mortgage that is larger than the payoff amount, allowing the borrower to receive some equity as cash if eligible.

FHA loans are insured by the Federal Housing Administration and are commonly reviewed for borrowers who need flexible credit, down payment, or qualification rules.

A conventional loan is a common home loan that is not insured by FHA, VA, or USDA. Lenders review credit, income, assets, the property, and how you plan to use the home.

VA home loans are a benefit for eligible Veterans, Servicemembers, and certain surviving spouses, with private lenders making VA-backed loans under VA program rules.

USDA guaranteed loans help approved lenders provide financing for eligible low- and moderate-income borrowers purchasing primary residences in eligible rural areas.

A jumbo loan is commonly used when the loan amount is above standard conforming loan limits, so lender rules can become especially important.

Occupancy describes how the borrower intends to use the property, such as primary residence, second home, or investment property, and it can affect eligibility, pricing, and documentation.

Property type affects mortgage eligibility because single-family homes, condos, manufactured homes, multi-unit properties, and mixed-use properties can have different rules.

Mortgage reserves are eligible assets left after closing that may help show the borrower has funds available for future housing payments or unexpected costs.

Credit scores can affect mortgage eligibility, pricing, documentation, and product fit, but score alone does not determine the full approval decision.