Loan options
Compare Mortgage Loan Programs
Review standard mortgage programs and Non-QM options based on your down payment, income documentation, property and goals.
Four common purchase options
Loan Programs at a Glance
These are starting points for eligible borrowers, not a determination of qualification.
| Program | Down payment | Insurance or fees | What to check first |
|---|---|---|---|
| Conventional → | 3% for eligible programs; others require more | PMI generally applies below 20% down | Credit, loan size and program requirements |
| FHA → | 3.5% with qualifying credit; some buyers need more | Upfront and monthly mortgage insurance | Credit, property standards and county loan limit |
| VA → | 0% may be available | No monthly mortgage insurance; funding fee may apply | Benefit eligibility and available entitlement |
| USDA Guaranteed → | 0% may be available | Upfront guarantee fee and annual fee | Property location and household income |
More Ways to Document Your Finances
Your Income May Need a Different Approach
Self-employed, paid on a 1099, buying a rental, or qualifying with assets? Explore CCM’s Non-QM options with Adam.
One Home, Different Loan Options
A fair comparison holds the purchase price and available cash steady. Then look at what each loan changes.
Compare payment estimates- 01
Monthly Payment
Include taxes, homeowners insurance, mortgage insurance or program fees, and HOA dues.
- 02
Cash Needed to Close
Compare down payment, upfront fees, other closing costs and available credits.
- 03
Your Plans for the Home
Consider reserves, how long you may stay, and what happens to insurance or assistance if you refinance.