Loan Options
There’s more than one way to finance a home, and the right one depends on your income, your credit, and your goals. Here’s a plain-English look at the main programs Chet works with — no charge to talk through which one fits.
Six Main Programs
Every program below has its own rules on down payment, credit, and who it’s built for. These are general starting points — your actual numbers depend on your full financial picture, which is exactly what a quick conversation with Chet sorts out.
The most common loan type, not backed by a government agency. Comes with fixed-rate or adjustable-rate options and terms typically running 10 to 30 years, with 40-year terms available in some cases. Modern conforming programs allow down payments well below the 20% many people still assume is required.
A government-backed loan (insured by HUD) built around looser qualifying requirements — a common fit if your credit has a few dings or your debt runs a bit higher than conventional guidelines allow. FHA loans require mortgage insurance, which Chet can walk you through when comparing total cost against other programs.
Guaranteed by the Department of Veterans Affairs for eligible veterans, active-duty service members, and some surviving spouses. The standout benefits: often no down payment at all and no monthly mortgage insurance — two of the strongest loan benefits available to anyone.
A zero-down program for eligible rural and suburban properties, backed by the USDA. Built for moderate-income buyers purchasing in an eligible area — property location and household income both factor into eligibility, so this is worth checking early if you’re looking outside the city.
For loan amounts above the standard conventional loan limit — the number you’ll need for a higher-priced home. Because the loan amount is larger, lenders generally look for stronger credit, a larger down payment, and more in reserves than a conventional loan requires.
A Non-QM program built for self-employed borrowers whose tax returns don’t tell the full income story. Qualification is based on bank deposits over time rather than tax-return income — often the better fit for 1099 earners and business owners. It’s one of several alternative-documentation options Chet offers; the Self-Employed Borrowers page covers the full picture.
*USDA household income limits vary by county and household size — $122,800 is a general reference point; ask Chet for the figure that applies to your specific area.
For homeowners 62 and older, a reverse mortgage turns home equity into usable funds while you keep the title in your name. It has its own set of rules worth walking through carefully — Chet has a full guide covering how it works, protecting your heirs, and every option available.
More Ways Chet Can Help
A few situations get their own dedicated guidance beyond the loan program itself.
New to the process? Start with a free pre-qualification and a walk-through of what to expect, start to finish.
Learn More →Replace your current mortgage with one that better fits where you are now — a lower rate, cash out, or different terms.
Learn More →1099 income, DSCR, ITIN, and asset-based programs for borrowers whose income doesn’t fit a standard W-2 mold.
Learn More →Start with a quick conversation or begin your pre-approval.
