Loan Options -

Loan Option	Description & Advantages
Fixed Rate	A fixed-rate mortgage provides a consistent interest rate throughout the life of the loan. This can make your principal and interest payment more predictable and easier to plan for over the long term. Advantages Predictable interest rate and principal and interest payment Available in a variety of loan terms depending on program eligibility Helps provide long-term payment stability Can be used for home purchases or eligible refinances
Conventional	Conventional loans are mortgage programs that are not insured or guaranteed by the federal government. They can be a strong option for borrowers with qualifying credit, income and assets who are looking for flexible financing. Advantages Flexible financing options for qualified borrowers Can be used for primary residences, second homes and eligible investment properties Down payment options may vary based on borrower and program eligibility May offer competitive mortgage pricing for qualified borrowers
FHA Mortgage	FHA loans are insured by the Federal Housing Administration and are designed to make homeownership more accessible to eligible borrowers. They may offer flexible qualification guidelines and down payment options. Advantages Flexible qualification guidelines for eligible borrowers Down payment options may be lower than some conventional programs Available for eligible home purchases and refinances Can be a potential option for first-time homebuyers
USDA Mortgage	USDA loans are backed by the U.S. Department of Agriculture and may help eligible borrowers purchase homes in qualifying rural and suburban areas. Advantages Financing may be available with no down payment for eligible borrowers Designed for qualifying properties in eligible areas Can be an attractive option for qualified homebuyers Income and property eligibility requirements apply
VA Loans	VA loans are backed by the U.S. Department of Veterans Affairs and are available to eligible veterans, active-duty service members and certain surviving spouses. Advantages No down payment may be required for eligible borrowers No monthly mortgage insurance requirement under the VA program Competitive financing options for eligible borrowers VA benefits may be used more than once when eligibility requirements are met
Jumbo Loan	Jumbo loans are designed for borrowers who need financing above the applicable conforming loan limits. These programs can be useful when purchasing higher-value properties. Advantages Financing for higher-value properties Larger loan amounts than standard conforming programs Options may be available for primary residences and other eligible properties Competitive options may be available for well-qualified borrowers
Reverse Mortgage	A reverse mortgage may allow eligible older homeowners to access a portion of their home’s equity while continuing to live in the home. Depending on the program, proceeds may be received in different ways. Advantages May provide access to home equity Can be used to support eligible retirement and financial goals Borrowers may have different options for receiving proceeds Eligibility and program requirements apply
Rate/Term Refinance	A rate-and-term refinance replaces your existing mortgage with a new loan that may provide a different interest rate, loan term, or payment structure. Whether refinancing makes sense depends on your current mortgage, financial goals and market conditions. Advantages May provide an opportunity to change your interest rate May allow you to change the length of your mortgage Potential opportunity to change monthly mortgage payments May allow qualified borrowers to modify their mortgage structure
Cash-Out Refinance	A cash-out refinance allows an eligible homeowner to replace an existing mortgage with a new mortgage for a higher amount and receive a portion of the available equity as cash, subject to applicable requirements. Advantages Potential access to available home equity Funds may be used for eligible financial purposes May provide an alternative to higher-interest forms of borrowing Can potentially consolidate certain higher-interest debts, subject to suitability and qualification
Home Purchase	Whether you’re buying your first home, moving to a new property, or purchasing an investment property, we can help you explore available mortgage programs based on your financial goals, property type and qualifications. Advantages Access to multiple mortgage program options Financing options for different borrower situations Guidance through pre-approval and the homebuying process Personalized mortgage guidance from application through closing