Loan options
Which loan fits you?
A short guide to the loans I arrange most often. On our first call I will tell you which ones you qualify for.
Conventional
The most common loan, for steady income and good credit. Mortgage insurance can come off later.
Jumbo
For loan amounts above the conforming limit in your county.
Bank statement
For self-employed borrowers. Income is based on 12 or 24 months of deposits instead of tax returns.
FHA
Backed by the federal government, with more flexible credit rules. Popular with first-time buyers.
VA
For veterans, service members and some surviving spouses. Often no down payment.
USDA
For homes in eligible rural and suburban areas, with income limits. Often no down payment.
What to have ready
Documents for your application
With these on hand, most files are ready for underwriting in a few days.
- Pay stubs from the last 30 days
- W-2s or 1099s from the last two years
- Two months of bank statements, all pages
- Photo ID for everyone on the loan
- Tax returns if you are self-employed
- The purchase contract, once you have one
Fees, in plain numbers
No application fee and no charge for a pre-approval. My pay is listed on your Loan Estimate, so you see it before you commit.