Browse
Loans
Loan programs in plain English, plus the words you'll meet along the way. Start here, then compare programs below.
Find the Loan That Fits Your Plans.
Buying your first home, moving up, building, renovating, tapping your equity or investing: each loan below is built for a different goal. Open any loan to see who it's for and the guidelines that matter most. Your actual rate and terms depend on your full application and the day you lock, so when one looks like a fit, let's run your real numbers together.
Conventional
A widely used loan type that follows Fannie Mae & Freddie Mac guidelines.
- Down paymentprogram guidelines may allow as little as 3% for qualified borrowers
- Creditgenerally 620+ minimum; pricing typically improves at higher scores
- Mortgage insurancePMI if under 20% down — removable at 20% equity, auto-cancels at 78% loan-to-value
FHA
A loan program following Federal Housing Administration guidelines, with more flexible credit standards — used by first-time and repeat buyers.
- Down paymentprogram guidelines may allow as little as 3.5% with 580+ credit, or 10% with 500–579, for qualified borrowers
- Creditprogram minimum 500 (below 580 requires the 10% tier); many lenders set higher minimums
- Mortgage insuranceMIP for life of loan under 10% down; cancels after 11 years at 10%+ down
Jumbo
For loans above your county's conforming limit — common at Orange County prices. Available fixed-rate, ARM, or interest-only.
- Applies above$1,249,125 in Orange County (high-cost limit) — $832,750 in standard-cost counties
- Down paymenttypically 10–20%
- Creditstrong, plus cash reserves
- Mortgage insuranceusually none at 20% down
Construction & Renovation
Finance a ground-up build or a remodel, sized to what the home is expected to be worth once the work is done.
- Buildconstruction-to-permanent: one closing that funds the build, then converts into your long-term mortgage when the home is complete
- RemodelFHA 203(k) and conventional HomeStyle® combine the purchase or refinance and the improvements in one loan
- Drawsfunds are released in stages as work is completed and verified, not all at once
HELOC
A home equity line of credit: a revolving line secured by your home that sits behind your first mortgage, so your existing rate stays untouched.
- How it worksdraw only what you need, and pay interest only on what you've drawn
- Structuretypically a draw period followed by a repayment period, usually at a variable rate
- Line sizebased on combined loan-to-value: your first mortgage plus the line, measured against the home's value
- Fixed optiona home equity loan pays a lump sum on a set schedule instead
Refinancing
Replacing your current mortgage with a new one — to lower your rate, shorten your term, or turn equity into cash.
- Rate-and-termmay lower your rate or change your term, no cash out
- Cash-outborrow more than you owe and receive the difference at closing
- Cash-out max80% loan-to-value on a primary residence (conventional)
- May make sense whenthe savings clear the closing costs within a reasonable timeframe
Non-QM
For borrowers who don't fit the standard box. These programs typically cost more than conventional loans.
- Qualifies onbank deposits, assets, or rental income — not a standard pay stub
- Down paymenttypically 10–25%, program-dependent
- Used byself-employed owners, borrowers qualifying on assets, and high-net-worth buyers
Bank-Statement
For self-employed borrowers whose tax write-offs make their returns understate what they actually earn.
- Qualifies on12–24 months of bank statements instead of tax returns
- Credit660+ typical (varies by lender)
- Down paymenttypically 10–20%
- Used bybusiness owners, 1099 contractors, and freelancers
- Pricingtypically higher than conventional loans
DSCR / Investor
Qualify on the property's rental income — not your paycheck. One option investors compare; pricing is typically higher than conventional loans.
- Qualifies onwhether the rent covers the payment
- Minimum DSCRoften 1.0–1.25x, varies by lender
- Down paymenttypically 20–25%
- Used forrentals, ADU income, investors with write-offs
- Alsoconventional investment loans, typically 20–25% down
VA
For veterans, active-duty service members, and surviving spouses. A home loan benefit earned through service.
- Down paymentprogram guidelines may allow 0% down for eligible borrowers
- Creditno VA-set minimum; lenders set their own requirements
- Funding fee2.15% first use / 3.3% reuse (no down) — as low as 1.25% with 10%+ down; exempt for veterans receiving VA disability compensation
Down Payment Assistance
State, county, and nonprofit programs that may help eligible buyers cover a down payment or closing costs — often paired with FHA.
- Structureusually a deferred or forgivable second loan, not cash handed to you outright
- CalHFA MyHomeup to 3.5% of price (paired with FHA) or 3% (conventional, VA, USDA), deferred second
- California programsCalHFA MyHome & ZIP, GSFA Platinum & OpenDoors, Forgivable Equity Builder Loan
- Designed forbuyers whose obstacle is cash to close, not income
USDA
Available in eligible rural and some suburban areas, with household income limits.
- Down paymentprogram guidelines may allow 0% down for eligible borrowers
- Credit640+ typically
- Guarantee fee1% upfront + 0.35% annual (in lieu of PMI)
- Income limithousehold income at or below 115% of area median income
Reverse Mortgage
Available to homeowners 62 and older (a program requirement) — converts home equity into cash or monthly income, with no required monthly mortgage payment. The loan balance grows over time.
- Eligibilityhomeowner age 62+, with sufficient home equity
- 2026 lending limit$1,249,125 nationwide (max claim amount)
- Paymentsno monthly mortgage payment required (property taxes, insurance and upkeep still apply) — the loan is repaid when the home is sold, is no longer the primary residence, or the last borrower passes
- Before you proceedindependent HUD-approved counseling is required
Disaster Recovery
For homeowners rebuilding or repurchasing after a fire, flood, or other federally declared disaster.
- Down paymentprogram guidelines may allow 0% down for eligible borrowers
- Filing windowwithin one year of the disaster declaration
- Pairs withrenovation-style financing to rebuild on your own lot
Don't See Your Loan?
Bridge loans, ITIN, foreign national, interest-only, commercial and other specialty programs may be available. Tell me what you're trying to do, and I'll look for a program that fits.
Figures above are general program guidelines, not loan terms or an offer of credit — actual down payment, APR, and repayment terms depend on your qualifications, the program you select, and current pricing. Contact me for rates and terms specific to your situation.
Looking for a specific word, not a loan program? The full Glossary covers every term, searchable A–Z.