Choose a loan by starting with your goal.
Mortgage names can sound more complicated than the decisions behind them. Start with what you want to accomplish, then compare the programs designed for that situation.
Goal 01
Buy a home
Compare down payment, credit flexibility, property rules, and mortgage insurance.
ConventionalFlexible financing for primary homes, second homes, and investments.FHAGovernment-backed financing with lower down-payment and flexible credit paths.VAA zero-down benefit for eligible veterans, service members, and surviving spouses.USDAZero-down financing for eligible buyers and properties in qualifying areas.JumboFinancing for higher-value homes above standard conforming limits.
Building instead of buying?
Read the construction guide One-Time Close financing can combine construction and permanent financing into one loan.
Goal 02
Change your current loan
Refinancing can lower a payment, change a term, remove mortgage insurance, or convert equity to cash. The break-even math matters more than the headline rate.
- Rate-and-term refinance
- Cash-out refinance
- FHA and VA streamline options
Goal 03
Put home equity to work
A HELOC gives you a reusable credit line secured by your home. It can preserve an existing first-mortgage rate while providing flexible access to funds.
- Borrow only what you need
- Keep your current mortgage in place
- Plan for a variable rate and repayment period
