Adjustable Rate Mortgage Loan

The adjustable-rate mortgage (ARM) is a type of loan that issues an interest rate that changes periodically and is reflected off an index, causing monthly payments to fluctuate over time. ARMs have a different layout compared to other mortgages. For ...[read more]

Minimum Credit Score
620
Key Advantage
Low Interest Rate Low Payments

Conventional Loan

A conventional loan is a type of mortgage loan that is not guaranteed by the government or a federal agency. This includes the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA). Lenders will usually offer. ...[read more]

Minimum Credit Score
620
Key Advantage
No Upfront PMI Various Long and Short Term Fixed Rate Adjustable Products and Amortization Terms

FHA 203k Streamline

If future homeowners are in the market to purchase a house that needs extensive repairs and maintenance work before moving in, they can finance an FHA 203(K) loan. Some lenders do not grant loans to homeowners that want to purchase a home that is in ...[read more]

Minimum Credit Score
600
Key Advantage
Repair or Remodel Your Home No Appraisal Required

FHA Loan Illinois

An FHA Loan Illinois is insured by the Federal Housing Administration and issued by a private mortgage lender. FHA loans are attractive to potential borrowers because they allow people to purchase homes with a small down payment and average credit sc ...[read more]

Minimum Credit Score
640
Key Advantage
Low Downpayment Low Credit Score

FHA Streamline Refinance

An FHA Streamline allows borrowers to refinance their existing FHA-insured mortgage loan. Streamline refinances require less documentation and provide a simple underwriting process. They offer borrowers the choice to qualify with credit or non-credit ...[read more]

Minimum Credit Score
660
Key Advantage
No Appraisal Required No Income Verification

HomePossible

HomePossible is a special loan product offered by Freddie Mac that is designed for low to moderate-income borrowers. This program is currently expanded to help low credited borrowers finance homes in low-income areas. ...[read more]

Minimum Credit Score
620
Key Advantage
Freddie Mac 3% Down with Lower PMI Factor Same as Conventional Loan Products

HomeReady

HomeReady is a special loan product offered by Fannie Mae that is designed for low to moderate-income borrowers. This program is currently expanded to help borrowers with below-average credit finance homes in low-income areas. ...[read more]

Minimum Credit Score
620
Key Advantage
Fannie Mae 3% Down with Lower PMI Factor Same as Conventional Loan Products

HomeStyle

The HomeStyle loan is offered through Fannie Mae and provides borrowers a convenient and economical way to make moderate improvements to their homes. The HomeStyle loan is a single-close loan that allows borrowers to purchase a home in need of repair ...[read more]

Minimum Credit Score
680
Key Advantage
Conventional Renovation Loan 5% Down No Upfront PMI

Jumbo Mortgage Loan

A jumbo loan, also referred to as a non-conforming mortgage, is a loan for homeowners that need a larger loan that is greater than the conforming loan limit in their area. In 2017, Fannie Mae and Freddie Mac implemented a conforming loan size limit o ...[read more]

Minimum Credit Score
700
Key Advantage
CONVENTIONAL PORTFOLIO LOANS WITH FIXED AND ADJUSTABLE TERMS THAT EXCEED NORMAL CONFORMING LOAN LIMITS

USDA Loan

The United States Department of Agriculture (USDA) created a loan program that allows borrowers to purchase a home with no down payment. More commonly, this mortgage product is known as the USDA loan program or the Rural Development Guaranteed Housin ...[read more]

Minimum Credit Score
640
Key Advantage
100% Loans for Rural Area Zip Code Specific

VA Home Loan

The United States Department of Veterans Affairs (VA) created a mortgage loan that provides financial assistance to veterans. This mortgage is guaranteed by the VA, which has helped over 25 million veterans and service personnel obtain a mortgage. Th ...[read more]

Minimum Credit Score
660
Key Advantage
No Downpayment Required No Monthly PMI

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