Check Out Our Most Popular Loan Options

An FHA loan may be available to you if your credit score is lower than that of other loans and minimum down payment of 3.5%. This is the best mortgage if you prefer easier qualification, loan flexibility, rate security, and lower equity/money down.

Monthly payments spread over 30-year periods with a stable fixed rate are lower than loans with shorter terms. This is the best mortgage if you prefer rate security.

Your loan is paid off faster since you pay less interest when monthly payments are spread over 15 years. This is the best mortgage if you prefer rate security.

For the first five, seven, or ten years, you will get a low fixed rate and lower monthly payment. This is the best mortgage if you prefer loan flexibility.

Qualified veterans, service members, and spouses can finance up to 100% of their loans with a lower closing cost. This is the best mortgage if you prefer easier qualification, loan flexibility, rate security, and lower equity/money down.

A small interest rate can help you save money when you need a large loan, such as between $647,200 and $2,500,000. This is the best mortgage if you prefer rate security.

You can save money and get a lower interest rate while repaying through a faster repayment. This is the best mortgage if you prefer loan flexibility, rate security, and lower equity/money down.

You can save 5 years off your loan and enjoy many benefits of a 30-year fixed. This is the best mortgage if you prefer rate security.

You can choose a term that suits your financial goals with a fixed rate of interest from 8 to 29 years. This is the best mortgage if you prefer loan flexibility and rate security.

Are you already a borrower on an FHA loan? Do you want to get a lower rate of interest? FHA Streamline refinance is easier and requires fewer documents. This is the best mortgage if you prefer easier qualification, loan flexibility, rate security, and lower equity/money down.

Are you unsure which loan is best for you?

Get started with one of our mortgage loan calculators, or speak to a Home Loan Specialist now.

Enjoy a more affordable rate and a lower monthly payment when you start your loan.

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How do Adjustable-Rate mortgages work?

An ARM mortgage may be right for you if you want lower monthly payments at the start of your loan. The ARM is a great option for those who want to quickly pay off their mortgage, live in the house for a short time, or anticipate their income increasing over the coming years.

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Who are Adjustable-Rate mortgages suitable for?

An ARM will provide a fixed low-interest rate for a set time, which is usually 5, 7, or 10 years. Your interest rate will fluctuate with the market and may change every six months or once per year. Your monthly mortgage payment may go up or down twice a year. However, your rate will not increase by more than 5% from the original rate.

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How do I qualify for an ARM?

• A general minimum 3.5% - 5% down payment
• A minimum qualifying FICO(r) Score of 580 - 620
• A debt-to-income ratio (DTI) of not more than 50%
• A Maximum loan-to-value ratio (LTV) of 95%

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Can you refinance an adjustable-rate mortgage?

Yes, you can refinance an adjustable-rate mortgage. Refinancing an adjustable-rate mortgage can provide stability of the same monthly payment for many years, especially when interest rates are low. Refinancing can also be a way to consolidate debt and pay down your mortgage faster.

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Adjustable-Rate Mortgage Benefits

• An ARM has a key advantage: the initial rate is usually lower than a fixed mortgage. It makes monthly payments more affordable.
• Some caps limit how much your interest rate or payment can increase during the term of an ARM loan.
• An ARM is a smart choice if your goal is to repay the loan in full or sell your house before the adjustment period begins.
• Many people find that the initial fixed-rate period corresponds to how long they will be living in their home before moving.
• If interest rates drop, there is a chance that your payment will go down.

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Benefits of Securing an ARM Loan With Us

• You can apply online and work at your own pace.
• You can reach our Home Loan Experts through chat, email, and phone to assist you in deciding if an ARM is right.
• We service over 99% of our mortgages. Our great customer service doesn't stop after you close.
• Once you have closed your loan, you can manage your mortgage online without any hidden fees.
• If you pay your loan off early, there will be no prepayment penalties.

You will receive a fixed interest rate with lower monthly payments.

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Who are 30-Year Fixed Loans Most Suitable For?

A 30-year fixed is a great option if you want to lower your monthly payments and stay in your home for the long term. People looking for the flexibility to pay more than the required amount anytime they want, and the predictability that comes with a fixed rate of interest, will love the 30-year fixed.

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How Does a 30-Year Fixed Loan Work?

A 30-year fixed-rate loan will allow you to make the same monthly payments for 30 years. You may be able to pay off the loan faster to reduce interest. You can make additional payments to your principal balance at any moment without penalty.

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How do I qualify for a 30-Year Fixed?

• A Minimum 3% - 3.5% down payment
• A Minimum of 580-620 FICO(r) score based on loan type
• A debt-to-income (DTI) ratio of not more than 50%
• Closing costs are covered by 3% to 6% of the purchase price

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30-Year Fixed Loan Benefits

• A 30-year fixed loan will have monthly payments lower than a 15-year fixed loan. However, interest rates for a 15-year fixed loan are usually a bit lower. Since your payments are spread over a longer time, you will pay less.
• No prepayment penalties are required to pay your mortgage off at any time.
• For a 20% down payment or higher, you can avoid mortgage insurance.
• The interest rate you pay is fixed for the entire term of your loan. The rate increase will not affect you.
• You can pay for as little as 3% down for your primary home.
• You can refinance your primary residence for as high as 97% of its current value.

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Requirements for Mortgage Insurance

• If your down payment is less than 20%, you need to pay PMI (primary mortgage insurance) along with your 30-year fixed-rate loan.
• It usually costs from 0.5% to 1% of the loan amount per annum, spread over 12 installments.
• You may be eligible to request the cancellation of PMI once you have attained 20% equity in your house.
• PMI can be canceled when you have at least 22% equity.

You can pay off your loan faster and save more money on interest.

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Who are 15-Year Fixed Loans Suitable For?

A 15-year fixed loan is a great option if you want to reduce interest costs and pay off your loan earlier. People who are financially stable and can make larger payments to reduce their loan repayments over the loan term will find the 15-year fixed suitable for their needs.

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How do 15-year fixed loans work?

A 15-year fixed-rate loan will pay your mortgage off in 15 years. Since your interest rate is fixed, so your principal and interest payments will not change. However, taxes and insurance can fluctuate.

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How do I qualify for a 15-Year Fixed Loan?

• A general minimum of 3% to 3.5% down payment
• A minimum of 580 - 620 qualifying FICO (r) Score
• A debt-to-income (DTI) ratio of not more than 50%
• Closing costs are covered by 3% to 6% of the purchase price

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15-Year Fixed Mortgage Benefits

• Your mortgage will be paid off faster than other loans.
• No prepayment penalties are required to pay your mortgage off at any time.
• With a 20% down payment, you may be eligible to avoid mortgage insurance.
• The interest rate you pay is set for the entire term of your loan. It means that there are no rising rates to worry about.
• You can purchase a home with as little as 3% down.
• You can refinance your home up to 97% of its current value.

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Mortgage Insurance Requirements

• If your down payment is less than 20%, you should pay PMI (primary mortgage insurance) along with your 15-year fixed-rate loan.
• It usually costs from 1% to 5% of the loan amount per annum, spread over 12 installments.
• You may be eligible to cancel PMI once you have attained 20% equity in your house.
• PMI can be canceled when you have at least 22% equity.

You can get a mortgage with lower credit scores and less down payment.

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Who are FHA loans suitable for?

An FHA loan may be the right option if you don't have great credit or are looking to pay less for a downpayment. FHA loans are popular for first-time buyers due to their more flexible requirements. However, you don't have to be a first-time buyer to qualify.

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How do FHA loans work?

Federal Housing Administration (FHA) insures FHA mortgages. Lenders are protected against defaults on payments by the FHA. You can be more easily qualified and allows lenders to offer lower interest rates.

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How do I qualify for an FHA loan?

• A minimum of 3.5% down payment
• A Minimum FICO (r. Score of 580
• The debt-to-income ratio (DTI) varies but can reach as high as 57%
• 75% of the loan amount will be used to pay the upfront mortgage insurance premium (UFMIP)- 0.01% is for FHA Streamlines
• Closing costs are covered by 3% to 6% of the purchase price

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FHA Loan Benefits

Credit score requirements are lower as compared to other types of loans. If you had financial problems or bankruptcy, an FHA loan may still be available. FHA loans can be obtained with either fixed or adjustable rates and are available for terms of 30 or 15 years.

FHA loans require a low down payment of as little as 3.5%.

There are many great benefits to refinancing with an FHA Loan.

• Borrowers have the option to include closing costs in their loans.
• You may refinance an FHA Streamline loan in case you already have an FHA loan. This demands less documentation and may not even require an appraisal. If you don't want to borrow cash, the FHA Streamline may be a great choice.

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FHA Property Requirements

• The loan amount limit in your area is the maximum you may borrow. In 2022, the FHA's lower-cost area limit is $420,680. The limit for high-cost areas is $970,800. It's a must for you to check out the loan limits for your area.
• Your home should meet the minimum property standards of the FHA for safety, security, and structural integrity.
• You must move into the house you purchased within 60 days of closing.
• Your primary residence must be the property. Take note that FHA loans are not used for investment properties or second homes.

This no-down-payment loan option was made especially for veterans, service members, and their spouses.

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Who Are VA Loans Best Suitable For?

VA loans offer a better option for veterans, service personnel, and their spouses.

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How does a VA loan work?

The Department of Veterans Affairs guarantees VA loans. There are many loan options available with adjustable or fixed interest rates and different loan terms.

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What are the Requirements for a VA Loan?

You will need the following qualifications to be eligible for a VA loan.

1. The following criteria must be met:

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• At least 181 consecutive days of active service in peacetime or 90 consecutive days in wartime
• Service of 6+ years in the National Guard or Reserves, or 90 days under Title 32 (at minimum 30 consecutive days)

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2. A Certificate of Eligibility

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• If you meet the VA's guidelines regarding type and length of service, you will be issued a Certificate of Eligibility.
• We can help you get your Certificate of Eligibility if you don't have one.

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3. Minimum FICO(r) Score of 620

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4. A debt-to-income ratio (DTI) of not more than 60%. Your DTI is estimated with monthly debt payments, such as car and credit card payments added to your monthly income before taxes.

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5. Money to pay the VA's funding fee. This fee may be included in your loan. If one of these conditions applies to you, you may not need to pay the fee.

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• A service-connected disability
• Eligible for VA disability or have in the past
• A qualified surviving spouse survivor
• A service member on active duty who is a recipient of a Purple Heart

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VA Loan Benefits

• A down payment may not be necessary.
• With a lower credit score, you can still qualify for conventional loans.
• There is no need for mortgage insurance.
• Your VA loan benefits can be used more than once. If you sell your house or pay off your mortgage, you can apply for another VA loan.

There are many great benefits to refinancing with a VA Loan.

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• You can refinance your VA loan up to 100% of your home's value to get cash out.
• You may be eligible to refinance your VA loan up to 120% of your home's value if you don't need any cash out.

Requirements for VA Property

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• Either you or your spouse must move into the home within 60 days. It does not apply to deployment and other exceptions.
• It should be your primary residence and not a vacation home or income property.

USDA Loans

Many loan options may be available for qualified borrowers who need 0% down, similar to USDA loans.

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Who are USDA loans Suitable For?

USDA loans are also known as rural development loans. They make it more affordable to own a home for those who live in rural or suburban areas that meet the USDA household income limits.

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How do USDA Loans work?

• USDA loans are guaranteed by the U.S. Department of Agriculture. It makes them more accessible than any other loan option.
• A USDA loan can be obtained as a 30-year fixed-rate mortgage.
• You can refinance a new USDA loan if you already have one. However, you cannot refinance with a USD loan if you have another loan type.

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What are the Qualifications for a USDA Loan?

• You will need the following to be eligible for a USDA loan:
• Minimum FICO (r Score) Score of 643
• An eligible property - the home you are looking to purchase or refinance must reside in an eligible rural or suburban area. Check if your property qualifies.
• You must have a household income below the USDA limit for the area you are looking to purchase a home. Find out if you are eligible for income eligibility from the USDA.

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USDA Loan Benefits

• You are eligible with a credit score of as low as 640.
• USDA loans do not require a down payment compared to conventional and FHA loans.
• In most cases, the USDA monthly guarantee fee will be lower than FHA monthly mortgage insurance. These fees may be rolled into your loan.
• Your closing costs may be included in your loan.
• You can refinance an existing USDA loan into a new USDA loan if you have one.

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USDA Property Requirements

• It must be your primary residence and not a vacation or income property.
• The property cannot be a working farm.
• The home appraisal must demonstrate that the property meets USDA standards.
• Water, electrical, heating, and cooling systems should be functional and up-to-date.
• Structurally sound foundations and houses are essential.
• Access to the property must be from a paved or all-weather road.

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Find Similar Loans

• FHA loans have a low downpayment and no restrictions on where you can purchase.
• With our YOURgage, you can choose between a term of 8 to 29 years with a fixed rate and a low downpayment.
• Conventional loans can provide down payments for as low as 3%.

You can now refinance or buy a home for $647,200 to $2.5 million more easily than ever.

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Who are Jumbo Loans Most Suitable For?

Jumbo Smart loans can be a great option for those who need to borrow as much as $2.5 million to purchase or refinance their home. Our Jumbo Smart loan might be an option for you if you require a loan that is greater than the traditional loan limit in your area ($647,200 in most places but up to $970,000.800 in high-cost areas).

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How do Jumbo Loans Work?

Nonconforming loans are also known as Jumbo Loans. They don't conform to Fannie Mae and Freddie Mac's purchasing requirements. Lenders decide the jumbo mortgage rate based on your credit score, down payment amount, and other external factors.

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How do I qualify for a Jumbo Loan?

To qualify for a jumbo mortgage, you'll need:

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• A down payment of more than 10% is possible (the exact amount will depend on the loan purpose and property occupancy).
• A minimum FICO (r. Score 680
• A debt-to-income ratio (DTI) of not more than 45%
• 3% to 6% of the purchase price for closing costs

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Jumbo Smart Loan Benefits

• It is easier to obtain a big loan with fewer requirements and a simplified process (compared to previous Jumbo Loans).
• A down payment of more than 10% is required to purchase a home.
• Contrary to conventional loans, mortgage insurance is not required, even if your down payment is lower than 20%.
• For primary and second homes as well as investment properties on up to 20 acres, 30-year fixed Jumbo Smart loans can be obtained. Only primary and secondary homes are eligible for 15-year fixed ARMs and 7-year ARMs.
• Jumbo Smart mortgages come with fixed 15- and 30-year interest rates or a 7-year ARM (adjustable rate mortgage).
• Jumbo Smart loans can be obtained for 1- or 2-unit properties.

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Benefits of a Jumbo Smart Loan

• You can apply online and work at your own pace.
• To help you find the Jumbo Smart loan for you, our Home Loan Experts can be reached via email, chat, and phone.
• Online mortgage payments are free of charge.
• If you pay your loan off early, there are no prepayment penalties.

You can choose any term from 8 to 29 years to get a fixed rate.

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Who are YOURgage loans most suitable for?

YOURgage may be the right fit for you if you are looking to customize your loan term to suit your mortgage payment timeline and monthly budget goals. Do you like the idea of a fixed 15-year mortgage? Do you want more spending flexibility? Do you want to be able to buy your home outright the year your child graduates college? YOURgage is your ideal option.

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How does a YOURgage loan work?

A custom loan term can be chosen from between 8 and 29 years. With this fixed-rate loan, you will ensure that your principal and interest payments are constant throughout the loan's life. Setting the length of your mortgage doesn't mean you're locked in. You can make additional payments and pay your loan off early.

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What are the requirements to qualify for a YOURgage loan?

• Minimum 3% down payment
• Minimum FICO (r) Score of 622
• A debt-to-income (DTI) ratio of not more than 50%
• 3% to 6% of the purchase price to cover closing costs

YOURgage(r) Loan Benefits

• You can choose the length of your loan to save money on your monthly payments.
• With a 20% down payment, you may be eligible to avoid getting mortgage insurance.
• The interest rate you pay is set for the entire term of your loan, so you don't have to worry about your rate increasing.
• A minimum of 3% down can be used to buy your primary residence. You can also refinance up to 97% of your home's value.

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Requirements for Mortgage Insurance

• If your down payment is less than 20%, you will need to pay PMI.
• It usually costs between 0.5% to 1% of the loan amount per annum, spread over 12 installments.
• You may be eligible to request the cancellation of PMI once you have attained 20% equity in your house.
• PMI can be automatically canceled when you have at least 22% equity.
• Lender-paid mortgage insurance (LPMI) is an option. This allows the lender to pay the entire premium upfront for the mortgage insurance policy. You will receive a slightly higher interest in return.