Loan programs
Standard programs, and the ones banks skip.
Compare conventional, FHA, VA, USDA and jumbo loans side by side, plus Section 184, one-time-close construction, bank-statement and investor loans.
Program
Conventional
A flexible option for first-time and experienced buyers, for primary homes, second homes and eligible investment properties.
- Buyers with established credit
- Anyone who wants flexible down payment options
- Second homes and eligible investment properties
Program
FHA
Government-insured financing with flexible credit and down payment requirements. Down payment assistance is available for qualified borrowers.
- First-time buyers
- Buyers with limited funds for a down payment
- Borrowers rebuilding credit
Program
VA
A home loan benefit for eligible veterans, active-duty service members and certain surviving spouses.
- Veterans and active-duty service members
- Eligible surviving spouses
- Buyers who want to keep cash in reserve
Program
USDA
Low or potentially no down payment for homes in eligible rural and suburban areas, for buyers who meet USDA income limits.
- Buyers outside city limits
- Moderate-income households
- Buyers who want to keep savings
Program
Jumbo
Financing for loan amounts above conforming limits, up to $3,000,000 for purchases and rate-and-term refinances (up to $2,000,000 for cash-out). First-time buyers are limited to $1,250,000.
- Higher-priced homes
- Primary residences, second homes and investment properties
- Rate-and-term refinances of larger loans
*50% maximum for condo transactions over $2,500,000. **1–4 units eligible for primary residences, second homes and investment properties (3–4 units as investments only).
Program
Section 184
A home loan program for enrolled members of federally recognized Native American tribes and Alaska Native borrowers.
- Enrolled tribal members
- Alaska Native borrowers
- Buyers who want a low down payment
Program
One-time-close construction
Build new with one loan and one closing. Fund your land purchase and construction costs at the same time. Vanguard offers direct lending for new construction.
- Building on your own lot or a new lot
- Buyers who want one closing, not two
- Buying new construction
Program
Bank statement
A non-QM option that qualifies self-employed borrowers using bank deposits instead of tax returns.
- Business owners and 1099 earners
- Borrowers with large write-offs
- Gig and commission income
Program
DSCR rental
Investor financing that qualifies on the property's rental income instead of your personal income.
- Real estate investors
- Growing a rental portfolio
- Short-term or long-term rentals
Program
Fix & flip
Short-term financing to buy and renovate an investment property.
- Investors renovating to resell
- Value-add projects
- Experienced and newer flippers
Program
Bridge
Buy your next home before your current one sells, using your existing equity.
- Move-up buyers
- Relocations on a deadline
- Avoiding a contingent offer
Side by side
Compare the most common programs
Fixed and adjustable rates, 15- and 30-year terms and custom terms are available. Your full profile matters, not just your score.
| Program | Typical minimum credit | Down payment | Good to know |
|---|---|---|---|
| Conventional | 680 | Low down payment options | Primary, second homes and investment properties |
| FHA | 580 | 3.5% | Down payment assistance available for qualified borrowers |
| VA | Varies | Potentially $0 | VA eligibility required |
| USDA | About 620–640 | Potentially $0 | Eligible areas and income limits |
| Jumbo | 660 | Varies (CLTV up to 90%) | Up to $3,000,000 |
| Construction (one-time close) | 700 | 5% | Land + build in one closing |
Programs, rates, terms and guidelines are subject to change without notice. Not all applicants will qualify. All loans are subject to credit approval, underwriting and property eligibility. This is not a commitment to lend.
FAQ
Loan program questions
Which loan program is right for me?
It depends on your credit, down payment, income type, property and goals. Try the 60-second loan finder on our homepage, or call and we'll compare programs side by side.
Do you offer fixed and adjustable rates?
Yes. We offer fixed and adjustable rates, 15- and 30-year terms, and custom terms.
What does non-QM mean?
Non-QM (non-qualified mortgage) loans use alternative ways to verify income or qualify, such as bank statements or rental income. They help borrowers whose finances don't fit standard guidelines.
Are these the only programs you offer?
These are our most common programs. If your situation is unique, call us. We may have another option.