Side by Side

Compare loan types

A quick look at how the main loans differ.

LoanDown payment (general)Often a good fit for
ConventionalAs low as 3% for some first-time buyersGood credit, steady income; homes, second homes, rentals
FHA3.5% with a 580+ score (10% with 500 to 579)Buyers with less savings or credit that is still growing
VAOften $0 for eligible borrowersVeterans, service members, some surviving spouses
USDA$0 in eligible areasBuyers under the income limit in eligible rural and small-town areas
JumboOften more; varies by lenderLoans above the conforming limit
Bank statement (non-QM)Often more; varies by lenderSelf-employed and 1099 earners
DSCR (non-QM)Often more; varies by lenderInvestors buying rental homes

General guidelines only. Lender rules vary, and programs can change. Not everyone will qualify.

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