The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.

FHA loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.

A cash out refinance lets you pull out up to 80% of your home’s value in cash.  You could refinance to pay off debts, home improvements, or even to purchase an investment home.

Rate and term refinancing means renegotiating your loan terms. This can help you lower your monthly payments or even pay off your loan faster. 

VA loans are guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no down payment.

Jumbo loans are used to finance high-value homes, such as luxury homes, vacation homes, or homes in high-cost areas. They are not guaranteed by Fannie Mae or Freddie Mac, and are also known as non-conforming loans.

Non-QM loans use alternative methods to verify income, such as bank statements or assets, instead of traditional methods like W-2s or pay stubs. It is a great option for self-employed borrowers.

If you're looking to buy a home in a rural or suburban area with no down payment and minimal investment, you might consider the USDA Rural Development Loan.