Learning center
Loan Program tips
Conventional, FHA, USDA, VA and special loan programs like bank statement, 1099 only, DSCR investor and others explained
Overview
On a purchase the loan type will dictate not only your rate and monthly payment, but also your funds needed for downpayment and closing costs. Understanding when a certain loan program is the right choice for you is the goal of these articles.
Who this is for: Buyers, homeowners refinancing
What you'll learn
- •Minimum down payment requirements for each loan type
- •Differences between the USDA & FHA loan types, and why USDA is a cheaper option
- •Why government loans have better rates but a conventional loan is often the best choice
2 guides in this topic
Loan Program tipsConventional, FHA, VA, USDA — How Do These Loan Programs Compare?
Loan programs have different costs and qualifying requirements. Here are some tips to help you choose what's best for you based on your qualifying criteria and the property. FYI-this…
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Loan Program tipsUSDA Rural Loan Program
The USDA Guaranteed loan program has income limits based on household size and location of the property . Currently as of 6/18/25 the low cost California county/metro area maximum annual…
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