Compare down payment starting points, occupancy rules and the costs that can change your monthly payment.
Starting down payment, eligible use and the cost to check for each option.
Some eligible programs start at 3% down.
Buyers whose credit, income and down payment fit conventional guidelines; options can include a primary home, second home or investment property.
With less than 20% down, monthly private mortgage insurance is common. Compare its price and cancellation rules with the FHA alternative.
Down payment may start at 3.5%.
Buyers who may benefit from FHA credit flexibility and are purchasing a home to occupy as their primary residence.
FHA mortgage insurance and county loan limits affect the total cost. Compare the full monthly payment and upfront cash with conventional.
No down payment may be possible for eligible borrowers.
Eligible veterans, service members and some surviving spouses buying a home to occupy.
A VA funding fee may apply unless you qualify for an exemption. Confirm entitlement, lender requirements and any fee before comparing cash to close.
100% financing may be available.
Eligible buyers purchasing a primary residence in an eligible area and within program income limits.
The property address and household income both matter. USDA guarantee fees and lender requirements belong in the payment comparison.
Down payment and reserves vary by lender.
Buyers whose loan amount is above the conforming limit for the property’s county and number of units.
There is no single jumbo minimum. Confirm the current county limit, then compare credit, income, asset and post-closing reserve requirements.
These are program starting points, not approval or an offer. Eligibility, pricing and lender requirements vary. Down payment is separate from closing costs, prepaid taxes and reserves.
Some options depend more on how you will use the home, how you earn income or what you plan to do with the property.
“First-time buyer” is not one specific loan. Compare conventional, FHA, VA or USDA options, and ask whether down payment assistance is available in your area.
Check occupancy, income, property and repayment conditions for any assistance.
How you will use the property changes the rules. A lender may review the down payment, reserves, distance and whether you plan to occupy it yourself.
Confirm the property qualifies as a second home rather than an investment.
First check whether tax returns support a conventional loan. Some alternative programs consider bank statements; these are not no-documentation loans.
Ask how business expenses are calculated and which records the lender accepts.
A conventional loan may consider your personal income and rental income. A DSCR program evaluates qualifying rent against the payment defined by that lender.
Compare reserves, fees, prepayment terms and actual cash flow.
Options depend on whether you are buying and improving a home or building from the ground up. Budget, contractor, timeline and staged draws may matter.
Before signing, ask how inspections, delays and cost overruns are handled.
A refinance may change the rate or term, take cash out or use a different structure. A HELOC is usually a separate loan and may have a variable rate.
Compare closing costs, total payment, break-even time and the risk of new debt.
A fixed rate keeps principal and interest steady. An adjustable-rate mortgage can change after an initial period, based on its terms.
For an ARM, review the initial period, adjustment caps and possible future payment.
Use the same price, down payment, occupancy and term. Then compare:
Buying, refinancing or investing? Tell me your goal and we’ll go through your options.
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