| LOAN TYPE | DOWN PAYMENT | TERMS | CREDIT SCORE | MORTGAGE INSURANCE | MAXIMUM LOAN |
|---|---|---|---|---|---|
| Fixed Rate Mortgage | 5% | 10, 15, 20, 25 or 30 years, fixed | Per DU/LP | No (if under 80% loan-to-value) | Varies by area |
| FHA Loan | 3.5% | 15, 20, 25 or 30 years, fixed and adjustable | 580 minimum | Yes | Varies by area |
| VA Loans | None | 15, 20, 25 or 30 years, fixed and adjustable | 580 minimum | No | Varies by area |
| Jumbo Loans | 20% | 15 or 30 years, fixed and adjustable | 660 minimum | No | $3 million |
| Rural Housing (USDA) Loans | None | 30 years, fixed | 580 minimum | No (Up-Front Guarantee Fee financed into loan) | Varies by area |
| FHA 203(k) Loan | 3.5% | 30 years, fixed | 580 minimum | Yes | Varies by area |
| Adjustable Rate Mortgage (ARM) | Varies | 5/6, 7/6 or 10/6 | Per DU/LP | Varies | Varies by area |
| FHA One Time Close Construction | 3.5% | 30 Years, fixed | 580 minimum | Yes | Varies by area |
