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More Options.
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Conventional loans are the most common type of home financing and aren’t backed by the government ...
FHA loans are backed by the Federal Housing Administration and designed to make homeownership more accessible ...
VA loans are a powerful benefit for eligible veterans, active-duty service members, and certain surviving spouses ...
USDA loans are designed to help low-to-moderate-income buyers purchase homes in eligible rural and suburban areas ...
Specialty Loans
🏠 Conventional Loans
Conventional loans are the most common type of home financing and aren’t backed by the government. They’re ideal for borrowers with stable income, solid credit, and at least a small down payment. These loans are typically purchased by Fannie Mae or Freddie Mac, which means they follow certain lending guidelines — but they also offer flexibility for primary homes, second homes, and even investment properties.
✅ Key Highlights
-Down Payment: As low as 3% for first-time homebuyers or 5% for repeat buyers.
-Credit Score: Minimum 620 required.
-Debt-to-Income (DTI): Up to 49–50% depending on your profile.
-Loan Limits: Up to $548,250 in most areas, and as high as $822,375 in high-cost counties.
-Mortgage Insurance (PMI): Required if your down payment is under 20%, but it can be removed once you reach 20% equity.
-Appraisal: Usually required unless Fannie Mae or Freddie Mac grants an appraisal waiver.
💰 Additional Details
-Gift Funds: Allowed to help with your down payment or closing costs.
-Seller Concessions:
-3% if putting less than 10% down
-6% if putting 10–25% down
-Up to 9% if putting more than 25% down
-Cash-Out Refinance: Up to 80% loan-to-value (LTV).
-Employment History: Preferably 2 years, but less may be accepted with strong compensating factors.
-Non-Occupying Co-Borrower: Allowed (for example, a parent helping a child qualify).
-Occupancy Requirement: Must occupy the home within 60 days after closing.
⚖️ Credit & History Guidelines
-Late Payments: One late payment may be acceptable, but more could raise your rate.
-Bankruptcy:
-Chapter 13 – 2 years from discharge
-Chapter 7 – 4 years from filing or discharge
-Foreclosure or Short Sale:
-Foreclosure – 7 years
-Short Sale or Deed-in-Lieu – 4 years
-Student Loans: Counted at 0.5% (Freddie Mac) or 1% (Fannie Mae) of the balance unless on an income-based repayment plan that can be verified.
-Collections: Lenders may hold back 5% of the balance as a monthly obligation when calculating DTI.
In short:
Conventional loans reward good credit and steady income with competitive interest rates and fewer long-term costs than government-backed options. If you’ve been managing credit responsibly and have some savings, this program could be your most affordable path to homeownership.
🏡 FHA Loans
FHA loans are backed by the Federal Housing Administration and designed to make homeownership more accessible — especially for first-time buyers or those with lower credit scores. They offer flexible qualifying guidelines, smaller down payment options, and competitive rates even if your credit isn’t perfect.
✅ Key Highlights
-Down Payment: As low as 3.5% for credit scores 580+
-Scores 500–579 require 10% down
-Credit Score: Minimum 500 accepted (with conditions)
-Debt-to-Income (DTI): Up to 46.99% front-end and 56.99% back-end
-Loan Limits: Set by county — usually lower than Conventional limits
-Mortgage Insurance (MIP):
-1.75% upfront (financed into the loan)
-0.85% annual if putting less than 5% down
-0.80% annual if putting 5% or more down
-Can cancel after 11 years if putting 10%+ down
💰 Additional Details
-Appraisal: Required on all FHA loans
-Gift Funds: Allowed for down payment or closing costs
-Seller Concessions: Up to 6% of the purchase price
-Cash-Out Refinance: Up to 80% LTV
-Employment History: At least 2 years of consistent work with no 6-month gaps (a gap resets the 2-year clock)
-Non-Occupying Co-Borrower: Allowed (with credit approval)
-Occupancy Requirement: Must live in the home within 60 days of closing
⚖️ Credit & History Guidelines
-Bankruptcy:
-Chapter 7: Eligible 2 years after discharge
-Chapter 13: Eligible 1 year after filing with 12 on-time payments and trustee approval
-Foreclosure or Short Sale:
-3 years after completion or insurance payout
-Late Payments: Generally not allowed right after BK or foreclosure (varies by lender overlay)
-Student Loans: Counted at 0.5% of balance unless an income-based repayment plan can be verified
-Collections & Charge-Offs:
-0% counted for medical debts and charge-offs
-5% of total balance used as a monthly payment if over $2,000
In short:
FHA loans are perfect for buyers who need a fresh start, lower credit flexibility, or minimal savings upfront. With government-backed security and easy qualification standards, FHA financing opens doors to homeownership for thousands of first-time buyers every year.
🎖️ VA Loans
VA loans are a powerful benefit for eligible veterans, active-duty service members, and certain surviving spouses. Backed by the U.S. Department of Veterans Affairs, these loans often require no down payment, no mortgage insurance, and offer some of the most flexible approval guidelines in the industry.
✅ Key Highlights
-Down Payment: 0% required (100% financing available)
-Credit Score: No official minimum, but most lenders look for 620+
-Debt-to-Income (DTI): No strict limit — approval based on residual income and overall financial stability
-Mortgage Insurance: None required
-Funding Fee: A one-time VA funding fee applies unless the borrower is exempt (typically with a 10%+ VA disability rating, shown on the Certificate of Eligibility)
💰 Additional Details
-Appraisal: Required on all VA loans
-Gift Funds: Allowed
-Seller Concessions: Up to 4% of the purchase price (excluding prohibited costs)
-Cash-Out Refinance: Up to 100% LTV allowed
-Employment History: 2 years of consistent work preferred
-Non-Occupying Co-Borrower: Allowed if the co-borrower also has VA entitlement
-Occupancy Requirement: Must occupy the home within 60 days of closing
⚖️ Credit & History Guidelines
-Late Payments: Generally, only 1×30-day late allowed in the past 12 months
-Bankruptcy:
-Chapter 7: Eligible 2 years after discharge
-Chapter 13: Eligible 1 year after filing with 12 on-time payments and trustee approval
-Foreclosure or Short Sale: Eligible 2 years after completion
-Student Loans: Typically counted at 5% of the balance ÷ 12 months, or deferred for 12 months past closing
-Collections & Charge-Offs:
-0% counted for medical debts
-5% of remaining balance used as a monthly payment for non-medical debts
In short:
VA loans honor those who have serve
🌾 USDA Loans
USDA loans are designed to help low-to-moderate-income buyers purchase homes in eligible rural and suburban areas. Backed by the U.S. Department of Agriculture, this program offers zero down payment and low fixed rates, making homeownership more accessible for families who meet income and location requirements.
✅ Key Highlights
-Down Payment: 0% required (100% financing)
-Credit Score: Minimum 640 for automated approval; 600 with manual underwriting
-Debt-to-Income (DTI): Up to 29% front-end and 43–45% back-end
-Income Limits: Must include all household income, even from members not on the loan
-A $480 monthly allowance is deducted for each full-time dependent student
-Mortgage Insurance (Guarantee Fee):
-1% upfront (can be financed into the loan)
-0.35% annual fee
💰 Additional Details
-Appraisal: Required
-Gift Funds: Allowed for closing costs or prepaid expenses
-Seller Concessions: Up to 6% of the purchase price
-Cash-Out Refinance: Not typically allowed under USDA guidelines
-Employment History: 2 years recommended, with a Letter of Explanation (LOX) if less
-Non-Occupying Co-Borrower: Not permitted (borrower must live in the home)
-Occupancy Requirement: Must occupy the home within 60 days of closing
⚖️ Credit & History Guidelines
-Bankruptcy:
-Chapter 7: Eligible 3 years after discharge
-Chapter 13: Eligible 1 year after filing with 12 on-time payments and trustee approval
-Foreclosure or Short Sale: Eligible 3 years after completion
-Student Loans: Counted at 0.5% of the balance unless an income-based repayment is verified
-Collections & Charge-Offs:
-0% counted for medical debts
-5% of non-medical debt balance used as a monthly obligation
In short:
USDA loans are an incredible option for qualified buyers in rural or small-town areas, offering no down payment, low fees, and affordable payments. It’s a great path to homeownership if your household income and property location meet USDA eligibility rules.
Company State License# AZMB - 0944059 | NMLS# 1660690
5559 S Sossaman Rd, Bldg 1 Ste 101 Mesa, AZ 85212