Mortgage Options

Mortgage Type Key Benefits Worth Considering if you…
Conventional Fixed-Rate Mortgages

The lowest fixed interest rates for eligible buyers.
Rates and more info

The best fixed rates
No interest-rate surprises

Plan to stay in your home for a longer period of time
Have an established credit history
Can put at least 5% down on a home

Adjustable-Rate Mortgages (ARMs)

The lowest rate for the first 3-10 years of the loan for eligible buyers. ARM loan payments may increase after loan consummation.
Rates and more info

The lowest short-term rates
Initial lower monthly payments
Initial rate periods of 3-10 years, then rates can adjust up or down

Know you’ll be moving within the next few years
Have an established credit history
Can put at least 5% down on a home

Jumbo Mortgages

The lowest rates for higher-priced properties.
Rates and more info

Increased purchase limits
Competitive rates
Fixed-rate and ARM options

Are buying a home that exceeds conforming loan limits ($417,000 in most areas)
Have an established credit history
Can put at least 20% down on a home

FHA Mortgages

Government-backed loans with flexible guidelines.
Rates and more info

Low down payments
Flexible qualification guidelines
Fixed-rate and ARM options

Have limited funds for a down payment
Don’t have an established credit history or have experienced credit challenges in the past

VA Mortgages

Government-backed loans for military members.
Rates and more info

Low or no down payment
No mortgage insurance requirement
Flexible qualification guidelines
Fixed-rate and ARM options

Are an active military member or veteran
Are the surviving spouse of a service member who died as a result of military service

Construction Loans

Flexible financing for your future home.
More info

Convenient financing for new construction
Construction-to-permanent loan options

Are building a new home to your specifications
Are buying a lot for a future home

Investment Property Loans

Financing for properties that generate income.
More info

Financing for residential rental property with 1-4 units
A variety of loan options to choose from

Want to become a landlord
Are buying a second home