Mortgage loan programs
Compare loan programs, side by side.
14 in-depth guides cover the programs people ask me about most. Below them, a directory organizes all 45 financing options I'm asked about and points each one to the guide, calculator or conversation that covers it best.
- 01ConventionalProgramFannie Mae and Freddie Mac financing with removable mortgage insurance and flexible terms.
- 02FHAProgramGovernment-insured loans with flexible credit standards and low down payment options.
- 03VAProgramA benefit earned through service: no monthly mortgage insurance and flexible down payment rules.
- 04USDAProgramGuaranteed loans for eligible buyers in eligible rural and suburban areas, with income limits.
- 05JumboProgramFinancing above the conforming loan limit, underwritten to each investor's standards.
- 06DSCR investor loansProgramQualify a rental on its rent compared with its full payment, not your tax returns.
- 07Bank statementProgramUse 12 or 24 months of deposits to show what your business really earns.
- 08Self-employed solutionsScenarioHow business owners qualify with returns and add-backs, and when alternatives fit better.
- 09Asset depletion & alternative documentationProgramTurn substantial assets, 1099s or a P&L into qualifying income under program rules.
- 10Non-QMProgramWhat sits outside the Qualified Mortgage box, what it costs, and when it's worth it.
- 11Construction-to-permanentProgramLot, build and permanent mortgage under one plan, with draws and inspections along the way.
- 12Refinancing & cash-outStrategyRate-and-term or cash-out: lower a payment, change a term, remove mortgage insurance or put equity to work.
- 13HELOCs & home equityProgramTap equity while keeping your first mortgage, with a line of credit or a fixed home equity loan.
- 14ITIN loansProgramFinancing for borrowers with an ITIN, offered only through certain Non-QM investors. Availability must be confirmed.
Start where you are
Borrower scenarios.
First-time buyers
I’mbuying my first home.
Preapproval, cash to close and the programs built for getting started.
Explore Your Options Repeat buyersI’mmoving up or moving on.
Timing a sale and purchase, using equity and jumbo considerations.
Explore Your Options VeteransI’ma veteran.
Entitlement, the funding fee and exemptions, and how VA really compares.
Explore Your Options Self-employedI’mself-employed.
Tax returns, add-backs or bank statements. We'll find the honest best path.
Explore Your Options InvestorsI’mbuying an investment property.
DSCR ratios, LLCs, short-term rentals and portfolio growth.
Explore Your Options BuildingI’mbuilding a home.
One-time close construction, budgets, draws and builder coordination.
Explore Your Options HomeownersI’mexploring refinancing.
Rate-and-term, cash-out or a HELOC, with real break-even math.
Explore Your Options Agents & buildersI’ma real estate partner.
Preapprovals you can trust and updates before you have to ask.
Explore Your OptionsFull directory
All 45 financing options
I'd rather write a few thorough guides than dozens of thin pages, so closely related options are covered together. Listing an option explains what it is; it isn't a promise every variation is available for every borrower, property or state. Availability through Neighborhood Mortgage is confirmed for your scenario.
- Traditional residential financing
- Self-employed and Non-QM financing
- Real estate investor loans
- Construction and specialized financing
- Refinancing and home equity
- Loan structures and rate strategies
Traditional residential financing 8 options
Agency and government-backed loans for buying or refinancing a home.
- Conventional mortgage loansFull guideFannie Mae and Freddie Mac loans with flexible terms and removable mortgage insurance.
- FHA mortgage loansFull guideGovernment-insured loans with flexible credit standards and low down payment options.
- VA mortgage loansFull guideHome loans for eligible veterans, service members and some surviving spouses.
- USDA Rural Development loansFull guideGuaranteed loans for eligible buyers in eligible rural and some suburban areas, with household income limits.
- Jumbo mortgage loansFull guideLoans above the conforming limit, underwritten to each investor's standards.
- First-time homebuyer financingCovered across the conventional, FHA and VA guides, plus the FAQ on preapproval and cash to close. · In the guides
- Low down payment optionsConventional, FHA and VA programs each offer low down payment paths for eligible borrowers. · In the guides
- Second home financingConventional and jumbo programs finance second homes with their own occupancy rules. · In the guides
Self-employed and Non-QM financing 9 options
Ways to qualify when your income doesn't fit a W-2 box.
- Self-employed mortgage loansFull guideHow business owners qualify with tax returns, add-backs and alternatives.
- Bank statement mortgage loansFull guideQualify on 12 or 24 months of deposits instead of tax returns.
- 1099 borrower programsNon-QM programs that qualify contractors from 1099 income. · In the guides
- Profit and loss statement loansIncome from a P&L prepared under program rules. · In the guides
- Asset depletion mortgagesFull guideEligible assets converted into qualifying income, including Fannie Mae's assets-as-income option.
- Asset utilization mortgagesA variation of asset-based qualifying. · In the guides
- ITIN mortgage loansFull guideNon-QM options for borrowers using an Individual Taxpayer Identification Number, subject to program availability.
- Non-QM mortgage programsFull guideWhat Non-QM means, how it differs from a Qualified Mortgage, and when it fits.
- Interest-only mortgage optionsPayments cover interest only for a set period. Available on some Non-QM and jumbo programs. · In the guides
Real estate investor loans 8 options
Financing for rental and investment property.
- DSCR loansFull guideQualify on the property's rent compared with its full payment.
- Investment property mortgagesConventional investment loans for borrowers with documented income, or DSCR when that fits better. · In the guides
- Rental property financingLong-term rentals financed conventionally or with DSCR programs. · In the guides
- Short-term rental financingAirbnb and VRBO properties under programs that accept short-term income. · In the guides
- Investor loans using property cash flowThat's the core idea of a DSCR loan. · In the guides
- Investment property cash-out refinancingPull equity from a rental to fund your next purchase. · In the guides
- Delayed financingRecover cash used to buy a property, under Fannie Mae's exception or investor programs. · In the guides
- Portfolio loan optionsLoans held or sold outside agency guidelines, with their own rules. · In the guides
Construction and specialized financing 6 options
Building, renovating and specialty situations.
- Construction-to-permanent loansFull guideFinance the land, the build and the permanent mortgage under one plan.
- One-time close construction loansOne approval and one closing for construction and permanent financing. · In the guides
- New construction financingBuying from a builder's inventory or building custom. See the builder partnership page too. · In the guides
- Renovation loansPrograms like FHA 203(k) and conventional renovation loans include repair funds in the mortgage. · Ask Kit
- Physician / doctor mortgage programsSome lenders offer programs designed for medical professionals. Availability varies widely. · Ask Kit
- Land and lot financingLot purchases can be built into a construction loan. Standalone land loans have separate rules. · In the guides
Refinancing and home equity 6 options
Lower a payment, change a term, or use your equity.
- Rate-and-term refinanceFull guideChange your rate, term or loan type without taking cash out.
- Cash-out refinanceReplace your mortgage with a larger one and take the difference in cash. · In the guides
- Home equity lines of credit (HELOCs)Full guideA revolving line secured by your home, often keeping your first mortgage in place.
- Home equity loansA lump-sum second mortgage, often with a fixed rate. · In the guides
- All-in-One / offset HELOC programsFirst-lien lines of credit that use your deposits to offset interest. Specialized; ask whether it fits. · In the guides
- Debt consolidation refinancingUsing equity to pay off higher-cost debt, with real risks to weigh. · In the guides
Loan structures and rate strategies 8 options
Terms, ARMs and buydowns.
- 30-year fixed-rate loansThe lowest fixed monthly principal-and-interest payment over the longest standard term. · Calculator
- 15-year fixed-rate loansHigher payment, faster payoff and much less total interest. · Calculator
- 10-year fixed-rate loansThe fastest standard payoff for borrowers who can carry a higher payment. · Calculator
- Adjustable-rate mortgagesA fixed period, then a rate that adjusts within set caps. · In the FAQ
- 5/6 adjustable-rate mortgagesFixed for five years, then adjusting every six months within caps. · In the FAQ
- Temporary 2-1 rate buydownsA lower payment in years one and two, funded up front. · In the guides
- Permanent rate buydownsPaying discount points to lower the rate for the life of the loan. · In the guides
- Lender-paid buydown optionsBuydowns funded through lender credits where a program allows. · Calculator
Not sure which program fits?
Tell me what you're trying to do, and I'll show you the options side by side.
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