Pick Your Mortgage
Every home loan has guidelines. Depending on your credit, how much you’ve saved for a down payment, whether you’ll live in the home, and the type of property — some loans will work, and others won’t. Take a look below to see which mortgage fits your situation.
Conventional Loan
Minimum Credit Score: 620
Minimum Down Payment: 3% - 5%
Maximum Loan 1 Unit: $832,750 low-cost areas, $1,249,125 in high-cost areas
Occupancy: primary residence, second home, invest
Property Types: most
For the best rates, you'll need a 740-credit score.
No PMI with 20% down
FHA Loan
Minimum Credit Score: 580
Minimum Down Payment: 3.5%
Maximum Loan 1 Unit: $541,287 low-cost areas, $1,249,125 in high-cost areas
Occupancy: primary residence
Property Types: 1-4 units, condos, manufactured homes
PMI for the life of the loan
Learn More →VA Loan
Minimum Credit Score: 580
Minimum Down Payment: 0%
Maximum Loan: $832,750 low-cost areas, $1,249,125 in high-cost areas
Occupancy: primary residence for purchase, investment & second home for refinances
Property Types: 1-4 units, condos, manufactured homes
No PMI with 20% down
Learn More →USDA Loan
Minimum Credit Score: 580
Minimum Down Payment: 0%
Maximum Loan 1 Unit: No set maximum loan limit — based on income/qualification
Occupancy: primary residence
Property Types: 1-4 units, condos, manufactured homes
For rural properties only
Learn More →Fixed Rate Mortgages
The payment stays the same throughout the loan.
Fixed rates are best when rates are low.
Adjustable-Rate
The payment varies depending upon the loan and market.
Adjustable rates are best when rates are high.
— CEO, Jayson Hardie on Value
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