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Principal & Interest $1421

Monthly Taxes $1421

Monthly HOA $1421

Monthly Insurance $1421


A conventional loan is a type of mortgage loan that is not insured or guaranteed by the government. Instead, the loan is backed by private lenders, and its insurance is usually paid by the borrower.


  • As little as 3% down payment

  • No PMI with 20% down

  • Can be used for 2nd home and investment properties

  • PMI is automatically dropped at 78% loan to value


  • Higher rates for lower credit scores

  • Requires a 620+ credit score

  • Lower debt to income ratios


A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs for those who have served or are presently serving in the U.S. military. VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms


  • 0% down required

  • No PMI

  • Lower credit scores

  • Higher debt to income allowed


  • Primary residence only

  • Subject to the VA funding fee

  • Must be active duty, reservist or military veteran


An FHA loan is a mortgage issued by an FHA-approved lender and insured by the Federal Housing Administration (FHA). Designed for low-to-moderate-income borrowers, FHA loans require a lower minimum down payments and credit scores than many conventional loans.


  • Low down payment – 3.5%

  • Non-owner occupant co-signer allowed

  • Better rates for lower scores

  • Minimum 580 score

  • Chapter 13 Bankruptcy OK


  • Primary residence only

  • Limited maximum loan amount

  • Upfront PMI of 1.75% required

  • Many condos not approved

  • PMI required


USDA loans are zero-down-payment, low interest rate mortgages. The  United States Department of Agriculture guarantees the loans. They help very low-to-moderate income buyers become homeowners.


  • No down payment

  • Use equity to finance closing costs

  • Lower credit scores down to 580


  • Restricted to rural areas

  • Maximum income limits

  • PMI required

  • Single family residences only


A jumbo loan, also known as a jumbo mortgage, is a type of financing that exceeds the limits set by the Federal Housing Finance Agency (FHFA). Unlike conventional mortgages, a jumbo loan is not eligible to be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac.


  • Borrow more money to buy a home

  • Competitive rates with other conventional loans


  • Minimum 10% down

  • Max 45% DTI

  • Typically higher scores above 700 required

Reverse Mortgage

A reverse mortgage is a type of loan that allows homeowners ages 62 and older, typically who’ve paid off their mortgage, to borrow part of their home’s equity as tax-free income


  • Access equity from your property

  • Make no mortgage payment payment

  • Retain ownership of your home. You never have to move

  • Money from the reverse mortgage is tax free

  • No claim against heirs


  • A fixed interest rate = Less cash out

  • Closing costs can be expensive

  • You can be foreclosed on if you fail to pay property taxes, insurance, HOA dues, etc