Loan Options
Loan types
and how they differ.
FHA, VA, conventional and jumbo loans each have their own requirements and tradeoffs. Read the details for the ones that interest you.
FHA Loans
Insured by the Federal Housing Administration and made by approved lenders.
- RequirementsThe home must meet FHA property standards and be your primary residence. FHA sets loan limits by county, and minimum credit and down payment depend on your profile.
- TradeoffsMortgage insurance is paid upfront and monthly, and how long it lasts depends on your loan terms. That adds to your payment and total cost.
- Worth askingHow FHA mortgage insurance would change your payment, compared with a conventional estimate.
Email danika@ecmortgagelenders.com, or call or text 772-626-8790.
VA Loans
A loan benefit earned through military service.
- RequirementsYou need a Certificate of Eligibility based on your service, and the home generally must be your primary residence and meet VA property requirements. I can help you request your certificate.
- TradeoffsA one-time funding fee may apply unless you are exempt. It can be rolled into the loan, which raises the loan amount and your overall cost.
- Worth askingWhether you are exempt from the funding fee, and which documents to gather for your certificate.
Email danika@ecmortgagelenders.com, or call or text 772-626-8790.
Conventional
The most common type of home loan, offered without a government guarantee.
- RequirementsLenders look closely at credit, income, debts and savings. Loan limits apply, and a loan above the conforming limit is a jumbo loan.
- TradeoffsWith a smaller down payment you will usually pay private mortgage insurance, which adds to your payment until it can be cancelled or removed.
- Worth askingHow your down payment would change the mortgage insurance and your monthly payment.
Email danika@ecmortgagelenders.com, or call or text 772-626-8790.
Jumbo
For loan amounts above the conforming loan limit.
- RequirementsLenders usually look for stronger credit, more documented income and cash reserves.
- TradeoffsDown payment and reserve requirements are typically higher, and terms vary more from lender to lender.
- Worth askingWhether jumbo financing is available for your loan amount.
Email danika@ecmortgagelenders.com, or call or text 772-626-8790.
General information only. This is not an offer to lend or a commitment to provide credit. Loan programs, minimum down payment and credit score requirements, mortgage insurance and eligibility vary by program and lender, can change without notice, and are subject to credit approval, underwriting and property qualification. Not all applicants will qualify. Examples describe typical program features and are not guaranteed terms. Contact me for current requirements. This site is not affiliated with or endorsed by HUD, FHA, VA, or any government agency.
Buying your first home?
First-time buyer guidance
First-time buyer programs aren't a separate loan type. They are usually paired with a loan like those above and have their own rules. The guide explains how to prepare, what pre-approval involves, and how assistance programs fit in.
Ready to start?
Let's talk numbers.
Apply online, or send me your questions first.
Phone or text 772-626-8790
Email danika@ecmortgagelenders.com