Mortgage options for different paths home.

Conventional loans are mortgages that are not insured or guaranteed by a government agency. Most follow guidelines set by Fannie Mae and Freddie Mac, which is why lenders across the country evaluate them in broadly similar ways.

They tend to appeal to buyers with a steady income history and established credit, and they cover a wide range of situations — a first purchase, a move to a larger home, a second property, or a refinance.

Because conventional guidelines are well defined, this is often the first category worth checking. If it fits, it fits cleanly. If it does not, that answer usually points toward the right alternative quickly.

FHA loans are insured by the Federal Housing Administration. That insurance reduces the risk a lender takes on, which is why FHA guidelines can be more accommodating than conventional guidelines for some borrowers.

People often look at FHA when their credit history is still developing, when a past financial setback is on the record, or when the funds available for a down payment are limited.

FHA loans carry mortgage insurance premiums, and the property itself has to meet FHA standards. Those details matter to the overall cost and to the timeline, so they are worth walking through before you commit to a direction.

VA loans are guaranteed by the U.S. Department of Veterans Affairs and are available to eligible veterans, active-duty service members, and certain surviving spouses.

The program was built around the specific circumstances of military service, and its terms reflect that. Eligibility is established through a Certificate of Eligibility, which we can help you request.

If you have used a VA benefit before, that does not necessarily rule out using one again. It is a common question and a short conversation usually settles it.

USDA loans are backed by the U.S. Department of Agriculture and support homeownership in areas the agency designates as rural. In practice, the eligible map is broader than most people expect and includes many towns on the edge of larger metros.

Two things have to line up: the property has to sit in an eligible area, and the household income has to fall within the limits set for that area.

Checking both is quick. It is worth doing early, because the answer either opens a door or closes it cleanly before you have spent time on it.

A jumbo loan is one that exceeds the conforming loan limit set each year for the county where the property sits. Because these loans fall outside the conforming framework, lenders set their own guidelines for them.

That means jumbo terms vary more from lender to lender than conventional terms do. Documentation expectations are typically more detailed, and reserve requirements are common.

As a brokerage, we compare jumbo programs across several lenders rather than working from one set of guidelines. On a larger loan, the differences between programs are worth the comparison.

Non-QM stands for non-qualified mortgage. These are loans that fall outside the Qualified Mortgage standards, which means lenders can evaluate income and assets in ways the conventional framework does not allow.

They come up most often for self-employed borrowers, business owners, investors, and people whose income is real and reliable but does not present neatly on a W-2 or a tax return.

Non-QM programs vary considerably in structure and cost, and they are not a fit for every situation. But when a strong borrower keeps getting a "no" from traditional guidelines, this is frequently where the conversation should have started.

If your income is complicated, tell us how it actually works. That is the fastest route to a useful answer.