Mortgage Loan Programs

Learn the benefits and details of the most-common loan programs
There are a number of different loan programs available to suit just about any type of need. Choose the loan program that best suits your goals.
Loan Program Benefits to Borrower Program Details
Fixed Rate Mortgages
  • Offers fixed monthly payment over the life of the loan
  • Payment remains constant throughout the loan term
Guaranteed to remain fixed. Choose from 10, 15, 20, 25 or 30 year terms.
Making Homes Affordable (HARP)
  • Finance with lower loan-to-value restrictions
Fixed rate government sponsored program to help homeowners refinance. Terms of 30 years available.
Conventional Mortgage
  • Ability to finance real estate for the most qualified borrowers
Fixed-rate programs available. Programs to finance conforming high balance areas.
FHA Mortgage
  • Low down payment
  • Good for “less-than-perfect” credit
  • Good for borrowers with higher amounts of debt
Fixed Rate programs insured by Federal Housing Administration. Choose from 15 or 30 year terms.
USDA Mortgage
  • NO down payment
  • 100% financing available
  • Good for “less-than-perfect” credit
  • Flexible qualifying for rural properties
Agriculture. Low mortgage insurance. Choose from from terms of 30 years.
VA (Veterans’) Mortgage
  • NO down payment
  • 100% purchase money financing for veterans
Fixed-rate government program guaranteed by the VA. Terms of 30 years.
Home Path Mortgage
  • NO appraisal required
  • NO mortgage insurance
Fixed-rate mortgage program offered by Fannie Mae. Choose from terms of 30 years.
Adjustable Rate Mortgage
  • Initially-lower monthly payments (usually for a short amount of time)
  • Good for borrowers expecting a sudden (and sustained) increase in income
Fully Indexed Rate contain index + margin with annual and life caps.
Jumbo Mortgage
  • Financing for properties of up to $2.5 Million
Fixed and variable-rate programs available. Chose fixed rate programs from 30 year or 15 years. Variables include 5, 7 and 10 year Arms.
Thinking of buying a fixer-upper? Ask us about our Rehab (known as “FHA-203K”) Loans, another program we offer for home purchases.
Contact Scott About Your Home Loan Questions

Please email me your question or scenario and I'll get back to the following business day. -Scott