Conventional
The most common route. As little as 3% down for eligible first-time buyers, though more down improves pricing. Mortgage insurance applies under 20% equity but can be removed later — unlike some alternatives. Generally the best long-term cost if your credit and income support it.
FHA
More forgiving on credit and debt ratios, 3.5% down. The trade-off is mortgage insurance that, on most current FHA loans, stays for the life of the loan unless you refinance out. Often the right answer today with a plan to refinance later.
VA
For eligible veterans and service members. No down payment, no monthly mortgage insurance, and competitive rates — comfortably the strongest program available if you qualify. There's a one-time funding fee, waived for some borrowers.
Investor and DSCR
For rental property, DSCR loans qualify on the property's rental income rather than your personal income — useful for self-employed borrowers or anyone whose tax returns don't reflect their cash flow. Rates run higher than owner-occupied, and down payment requirements are larger.
Why the broker part matters
A bank offers its own products. As a broker I place your file with the lender whose guidelines and pricing actually fit it — which matters most precisely when your situation isn't textbook.