Find the Right Loan for You
Smart Choices for First-Time Homebuyers
SERVICES
CONVENTIONAL LOANS
Mortgages that aren’t insured by the government but conform to guidelines established by Fannie Mae and Freddie Mac. You can get a conventional mortgage loan with as little as 3% down, but you’ll need at least a 620 credit score to qualify.
FHA LOANS
Home loans insured by the Federal Housing Administration and provided by FHA-approved lenders. You can put as little as 3.5% down with an FHA loan if your credit score is 580 or higher. If you have a score of 500 to 579, you’ll need to put 10% down. FHA loans come with upfront and annual mortgage insurance premiums, usually for the life of the loan.
VA LOANS
Mortgages backed by the U.S. Department of Veterans Affairs (VA) available to eligible military borrowers. VA loans require no down payment or mortgage insurance, but you must provide a VA certificate of eligibility to qualify.
FAQ
Common Mortgage Questions Answered
- CREDIT SCORESYou’ll need at least a 620 credit score for a conventional loan and a 580 score for an FHA loan (with a 3.5% down payment). VA and USDA lenders might require a minimum 620 and 640 credit score, respectively.
- DEBT-TO-INCOME (DTI) RATIOYour DTI ratio is a measure of your total monthly debt payments divided by your gross monthly income. Lenders recommend a DTI ratio at or below 43%. You may be able to qualify for a mortgage with a DTI ratio as high as 50%, but you’d need a good credit score and/or a larger down payment
- DOWN PAYMENTConventional loans are available with a 3% down payment (income limits may apply). You’ll need at least 3.5% down for an FHA loan. There may be no down payment required if you’re eligible for a USDA or VA loan.
- EMPLOYMENT HISTORYLenders look for proof of steady employment and income for the past two years. Have your pay stubs, W-2s and federal tax returns ready for your lender.
MORTGAGE INQUIRY FORM
Ready to take the first step towards your homeownership journey? We’re here to help! Please fill out the form below so we can better understand your needs and guide you through the mortgage process. Our team will reach out to you shortly to discuss your options and answer any questions you may have. Let’s get started!
