Mortgage Loan Programs and Eligibility Requirements

A comparison of available loan programs - conventional, FHA, VA, USDA, jumbo, HELOC and specialty financing - with the credit, down payment and property rules that decide which one fits.

With 20% down, conventional borrowers avoid private mortgage insurance entirely — and when PMI is required, it automatically ends once sufficient equity is reached.

Benefits of a conventional loan

• Down payments from 3% for qualifying borrowers
• PMI can be removed once you reach 20% equity
• Available for primary homes, second homes, and investment properties
• Flexible terms — 15, 20, and 30-year fixed or adjustable options

What to consider

• Credit and debt-to-income standards are stricter than FHA
• Loan amounts above conforming limits require a jumbo loan

Ready to explore conventional loans? Ciaara Hoffmann can walk you through eligibility, compare options, and get you pre-approved in Alaska and 19 more states.

Ciaara Hoffmann, Mortgage Loan Officer at Zillow Home Loans, LLC. NMLS #1976131. Call (909) 217-5510.

• Conventional loans for strong credit and steady income
• FHA loans with flexible credit and low down payment
• VA loans with no down payment for eligible veterans
• USDA loans for eligible rural and suburban properties
• Jumbo, DSCR, bank statement and bridge financing