There are a number of different types of home loans available to you, so whether you are purchasing, refinancing, or pulling cash out, you've come to the right place!
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A first-time homebuyer loan is a type of mortgage program designed to make it easier and more affordable for people purchasing their first home. These loans often feature lower down payments, reduced interest rates, and more flexible credit requirements than standard mortgages.
Down payment assistance (DPA) is a type of financial aid or program designed to help homebuyers—especially first-time or low-to-moderate-income buyers—cover the initial costs of purchasing a home, such as the down payment and sometimes closing costs.
A conventional loan is a standard mortgage that is not insured or guaranteed by a government agency such as the FHA, VA, or USDA.
An FHA loan is a mortgage insured by the Federal Housing Administration, designed to make homeownership more accessible for first-time buyers or those with lower credit scores or limited savings. Because the loan is government-backed, lenders can offer lower down payments (as little as 3.5%) and more flexible qualification requirements than conventional loans
A jumbo loan is a type of mortgage used to finance high-value properties that exceed the conforming loan limits set by Fannie Mae and Freddie Mac (which vary by county). Because these loans fall outside standard lending guidelines, they are considered non-conforming and typically require strong credit scores, larger down payments (often 10–20%), and more extensive income verification
A Non-QM (Non-Qualified Mortgage) loan is a type of home loan that doesn’t meet traditional lending standards set by the Consumer Financial Protection Bureau (CFPB) for Qualified Mortgages. These loans are designed for borrowers who may not fit standard income or credit documentation requirements — such as self-employed individuals, real estate investors, or retirees.
A HELOC (Home Equity Line of Credit) is a revolving line of credit that lets homeowners borrow against the equity they’ve built up in their property. Similar to a credit card, it provides a credit limit that can be drawn from, repaid, and used again during the draw period—typically 5 to 10 years.
A second mortgage is a loan taken out against a home’s equity while the first mortgage is still in place. It’s called “second” because it’s subordinate to the original mortgage—meaning if the borrower defaults, the first lender is paid first. Second mortgages allow homeowners to access cash for renovations, debt consolidation, education costs, or other large expenses without refinancing their primary loan
An FHA 203(k) loan is a rehabilitation mortgage insured by the Federal Housing Administration that allows homebuyers or homeowners to purchase or refinance a property and finance the cost of repairs or renovations within a single loan. It’s ideal for buying a fixer-upper or upgrading an existing home.
A bank statement loan is a type of non-QM (non-qualified mortgage) designed for self-employed borrowers, freelancers, or business owners who may not have traditional income documentation like W-2s or tax returns. Instead of using those forms, lenders verify income by reviewing 12 to 24 months of personal or business bank statements to calculate average monthly deposits and determine repayment ability.
The Hometown Heroes Loan Program is a state-sponsored mortgage assistance program (most notably offered in Florida and a few other states) that helps frontline and community service professionals—such as teachers, firefighters, police officers, nurses, and military personnel—buy a home in the communities they serve. The program provides down payment and closing cost assistance, often as a 0% interest, forgivable second mortgage, along with access to competitive first mortgage rates.
An ITIN loan is a type of mortgage designed for borrowers who do not have a Social Security Number but instead use an Individual Taxpayer Identification Number (ITIN) issued by the IRS. These loans make homeownership possible for non-U.S. citizens, immigrants, and foreign nationals who live and work in the U.S. and pay taxes using an ITIN.
An Adjustable-Rate Mortgage (ARM) is a type of home loan with an interest rate that changes periodically after an initial fixed-rate period. For example, a 5/1 ARM has a fixed rate for the first 5 years, then adjusts once per year based on a benchmark index (like the SOFR or Treasury rate) plus a lender’s margin. ARMs typically start with lower initial interest rates than fixed-rate mortgages, making them attractive for borrowers who plan to sell or refinance before the rate adjustments begin.
A condotel loan is a type of specialized mortgage used to finance the purchase of a condominium hotel unit, or “condotel.” These are properties that operate like traditional hotels—with front desk services, short-term rentals, and shared amenities—but where individual units are owned by private buyers. Because condotels combine real estate ownership with hospitality operations, they don’t qualify for conventional Fannie Mae or Freddie Mac financing.
A multi-unit loan is a type of mortgage used to purchase or refinance a property with two to four residential units, such as a duplex, triplex, or fourplex. These properties allow owners to live in one unit while renting out the others, or operate the entire building as an investment. Multi-unit loans can be conventional, FHA, VA, or portfolio loans, depending on occupancy and borrower eligibility.
A reverse mortgage is a special type of home loan for homeowners aged 62 or older that allows them to convert part of their home’s equity into cash without selling the property or making monthly mortgage payments. Instead of the borrower paying the lender, the lender pays the homeowner—either as a lump sum, monthly payments, or a line of credit.
