Home Mortgage Loan Options

Conventional FHA FHA Streamline VA VA Streamline Jumbo
Income Documents Needed Needed Not Needed Needed Not Needed Needed
Appraisal Needed (Waiver Available)* Needed Not Needed Needed Not Needed Needed
Yearly Terms 10, 15, 20, 25, 30 Any (min. 10) Any (min. 10) Any (min. 10) Any (min. 10) 10, 15, 20, 25, 30
Min Down Payment 3% 3,50% N/A 0% N/A Please Call
Min Credit Score 620 620 620 620 620 Please Call
Cashout from Equity Up to 95% of the Value Up to 97.5% of the Value N/A Up to 100% of the Value N/A Please Call

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Related Resources

What Is the Difference Between Conforming and Nonconforming Loans?

By Better Lending | March 5, 2021

Conventional loans can be categorized in two ways: Conforming and Nonconforming Loans. There is a rather simple distinction between the two.

How Conventional Mortgages Differ From Others

By Better Lending | February 26, 2021

Conventional mortgages often meet down payment and income requirements set by Fannie Mae and Freddie Mac with a credit score of at least 620.

How to Keep Your Monthly Payments as Low as Possible

By Better Lending | February 19, 2021

Knowing how to keep your monthly payments as low as possible is important when trying to figure out your perfect monthly budget for housing.

How COVID Has Affected FHA Loan Requirements

By Better Lending | February 3, 2021

The COVID-19 pandemic has made some lenders make their requirements more stringent. See why…