Mortgage Programs

Conventional Mortgage Loans

Conventional Mortgage Loans

By definition, a conventional loan is any mortgage that is not guaranteed or insured by the federal government. A conventional loan generally refers to a mortgage loan that follows the guidelines of government sponsored enterprises (GSE's) like Fannie Mae or Freddie Mac. Conventional loans are known as either conforming loans or non-conforming loans. Conforming loans follow the terms and conditions set by Fannie Mae and Freddie Mac. Non-conforming loans are those that do not meet the Fannie Mae or Freddie Mac guidelines, but are still considered conventional. Whether you're buying a home or want to refinance your mortgage, a conventional loan might be right for you. If you're not sure about your credit rating or you have any concerns about a down payment, conventional mortgages can give you peace of mind with low closing costs and flexible payment options.

FHA Loans

Simply put, an FHA loan is a mortgage that is insured by the Federal Housing Administration. The FHA is a government agency within the U.S. Department of Housing and Urban Development. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan. FHA loans can be a great option for first-time homebuyers.

VA Loans

If you've served our country in any branch of the U.S. military, you are eligible to receive a Certificate of Eligibility (COE) that will help you in your pursuit of a VA loan. VA home loans can be used to buy a home, a condominium unit in a VA-approved project, build a new home, purchase and improve a home simultaneously, make home improvements by installing energy-related features or making a home energy efficient, or buy a manufactured home and/or lot.

USDA Loans

This program was developed to assist approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants are able to build, rehabilitate, improve or relocate a dwelling in one of the eligible rural areas. This program provides a 90 percent loan note guarantee to approved lenders in order to reduce the risk of extending 100 percent loans to eligible rural homebuyers. Not sure if your area is eligible? Check it here.


If you decide to refinance your mortgage, you will be paying off your existing mortgage and creating a new one. You may also decide to combine both a primary mortgage and a second mortgage into a new loan. Refinancing will likely remind you of the process you went through when you secured your original mortgage, especially since many of the same procedures, and the same types of costs, may be encountered again the second time around. Your home may be your most valuable financial asset, so caution and care should be practiced when reviewing specific mortgage terms. In addition to the potential benefits to refinancing, there are also costs and these should be kept in mind.