Match every buyer to the right loan
Six programs, explained in plain English. Use these to answer buyer questions with confidence — no jargon, no guesswork.
| Program | Min. down | Min. credit | Best for |
|---|---|---|---|
| Conventional | 3% | 620 | Buyers with solid credit and steady income. |
| FHA | 3.5% | 580 | Buyers with lower credit or limited down payment. |
| VA | 0% | 580–620* | Eligible veterans, active-duty & qualifying spouses. |
| USDA | 0% | 640 | Moderate-income buyers in eligible areas. |
| Jumbo | 10–20% | 700+ | Buyers of higher-priced or luxury homes. |
| DSCR / Investor | 20–25% | 660+ | Real-estate investors growing a portfolio. |
Live market rates
Current average mortgage rates, updated daily and pulled live from the Optimal Blue Mortgage Market Indices — the same market data that drives real pricing.
Market index data via Optimal Blue (OBMMI). Figures shown are daily market averages for reference only — not a quote or commitment to lend. Your actual rate and APR depend on a full application, credit approval, and current pricing. Contact us for a rate specific to your scenario. Equal Housing Opportunity.
Conventional
The flexible workhorse loan.
3%
Min down
Best for: Buyers with solid credit and steady income.
- As little as 3% down for first-time buyers
- PMI drops off automatically at 78% LTV
- Loan limits up to the conforming cap
- Works for primary, second homes & investment
Watch out: Higher credit scores unlock the best rates and lower PMI.
FHA
Lower barrier to entry.
3.5%
Min down
Best for: Buyers with lower credit or limited down payment.
- 3.5% down with a 580+ score
- More forgiving of past credit bumps
- Gift funds allowed for the full down payment
- Assumable by a future buyer
Watch out: Mortgage insurance (MIP) usually stays for the life of the loan.
VA
Earned benefit for those who served.
0%
Min down
Best for: Eligible veterans, active-duty & qualifying spouses.
- $0 down payment
- No monthly mortgage insurance
- Competitive, often below-market rates
- Limited closing costs
Watch out: Requires a Certificate of Eligibility and a VA funding fee (waived for some).
USDA
Zero-down for rural & suburban areas.
0%
Min down
Best for: Moderate-income buyers in eligible areas.
- $0 down payment
- Below-market guarantee fees
- Generous eligible-area maps (many suburbs qualify)
- Great for first-time buyers
Watch out: Property must be in a USDA-eligible area and income limits apply.
Jumbo
For homes above conforming limits.
10–20%
Min down
Best for: Buyers of higher-priced or luxury homes.
- Financing above the conforming loan cap
- Fixed & adjustable options
- Single loan instead of a piggyback
- Competitive rates for strong borrowers
Watch out: Expect stricter reserves, income, and credit requirements.
DSCR / Investor
Qualify on the property, not your paystub.
20–25%
Min down
Best for: Real-estate investors growing a portfolio.
- Qualifies on rental cash flow, not personal income
- No W-2 or tax returns required
- Close in an LLC
- No limit on number of financed properties
Watch out: Higher rates and down payment than owner-occupied loans.
Programs most lenders don't offer
Niche solutions for self-employed borrowers, investors, ITIN buyers, and anyone who doesn't fit the traditional mold. These are what make you the agent with answers.
Self-Employed FHA Special
Qualify on your business, not just your taxes.
- 3.5% down payment · 640 minimum FICO
- No tax returns and no pay stubs required
- Income qualifies using P&L + balance sheet
- Borrower-prepared financials accepted
- 2+ years of business ownership required
- 100% gift funds allowed
Best for: Self-employed borrowers who write off too much income to qualify the traditional way.
FHA-PLUS
A standard FHA loan with far less income documentation.
- VOE is all you need for income — no 4506-T
- No tax returns · 100% gift funds allowed
- FICO scores down to 620
- SFR, PUD, condo, and 1–4 units eligible
Best for: Buyers who want FHA financing with streamlined income verification.
Earned Equity Program (EEP)
A 15-year FHA lease-to-own path when traditional lending can't.
- 15-year lease-to-own: assume the FHA loan later or sell
- You earn the equity — part of each payment goes to principal
- 3.5% down + up to 6% seller concessions
- Credit scores down to 580 · 1 day out of BK/FC OK
- ITIN, DACA, and U.S. citizens welcome
Best for: Buyers who need a bridge to ownership — including ITIN and DACA borrowers.
Self-Employed HELOC
Tap your home's equity without tax returns.
- Qualify using your year-end P&L — no tax returns
- Access up to 75% of your home's equity
- 5-year draw period, 30-year total term
- Rates tied to prime, margins starting around 2%
Best for: Self-employed homeowners who want a line of credit against their equity.
Down Payment Assistance (DPA)
FHA 100% financing — little to nothing out of pocket.
- FHA 100% financing (96.5% first + 3.5% second)
- 600 FICO OK · no first-time-buyer requirement
- Up to 2 units · manufactured homes OK
- 6% seller credits allowed for closing costs
- Second is 0% forgivable or amortized over 10 years
Best for: Buyers who need help covering the down payment.
Non-QM for Self-Employed
Real financing built around your income — not your tax returns.
- Loan amounts up to $7 million
- Down payments as low as 10%
- Rates competitive with jumbo products
- P&L, 1099, or 12–24 month bank statements
- Blended and no-doc income options
- No prepayment penalties
Best for: Self-employed buyers and investors who need flexible income documentation.
Renovation HELOC
Borrow against your home's after-renovation value.
- Up to 95% LTV/CLTV · 640 minimum FICO
- Loan amounts from $50K to $500K
- 1–2 units, ADUs, PUDs, townhomes, warrantable condos
- Customized underwriting · no draw required
- No cash-out restrictions or prepayment penalty
Best for: Homeowners financing improvements without draining their savings.
Non-QM HELOC
A flexible second lien for nearly any borrower.
- WVOE, P&L, bank statement, or DSCR qualifying
- No-ratio investment & no-income owner-occupied options
- First lien allowed · loan amounts to $500K
- 1–4 units, PUD, SFR & condo
- Primary, second home & investment · foreign nationals OK
Best for: Owners and investors who want to tap equity with alternative income docs.
Hope for Homeownership (HOPER)
Up to a $13,000 grant that never needs to be repaid.
- Up to $13,000 grant — no repayment required
- No income restrictions
- Same competitive rates as a standard FHA loan
- Add solar to your FHA loan at purchase
- Complete 6 hours of HOPER homebuyer education to qualify
Best for: FHA buyers who want a cash boost — no first-time-buyer requirement.
Even more ways to get your buyer approved
LLC Loans
Purchase in the name of your LLC — no longer limited to lending only to individuals.
1099-Only Loans
Qualify on one or two years of 1099s — no tax returns needed.
12-Month Bank Statement (Investor)
Buy investment property qualifying on the property's rental income alone.
Non-Warrantable Condos
Financing for condos whose HOA isn't eligible for conventional loans.
P&L-Only for Self-Employed
Qualify using borrower-prepared (non-audited) profit & loss statements.
True ITIN — 5% Down
ITIN purchase through Fannie/Freddie with 5% down (valid ID/work authorization required).
Long Beach $25K Grant
A $25,000 first-time homebuyer grant for eligible Long Beach buyers.
CalHFA Assistance
California Housing Finance Agency down payment and closing-cost assistance.
70+ DPA Programs
Access to 70+ additional down payment assistance programs across the state.
Family Opportunity Mortgage
Buy a home for a parent or college-age child at owner-occupied rates with 3–5% down.
Don't see the fit? We have access to dozens more niche and down-payment-assistance programs — just ask.
We'll help your buyer find the perfect program
Send them our way for a quick, no-pressure conversation and a same-day pre-approval.
*VA credit minimums vary by lender overlay. Program details are general guidelines and subject to change, eligibility, and full underwriting approval.