| Loan Type | Down Payment | Terms | Credit Score | Mortgage Insurance | Maximum Loan |
|---|
| Fixed Rate Mortgage | 5% | 15 or 30 years, fixed | 620 minimum | No (if under 80% loan-to-value) | Varies by area |
| FHA Loan | 3.5% | 10, 15, 20, 25 or 30 years, fixed and adjustable | 640 minimum (unless approved by FHA Choice) | Yes | Varies by area |
| VA Loans | None | 15, 20, 25 or 30 years, fixed and adjustable | 620 minimum | No | Varies by area |
| Jumbo Loans | 20% | 15 or 30 years, fixed and adjustable | 700 minimum | No | $2.5 million |
| Rural Housing (USDA) Loans | None | 30 years, fixed | 640 minimum | No (Up-Front Guarantee Fee financed into loan) | Varies by area |
| FHA Choice Loan | 3.5% | 30 years, fixed | 500 minimum | Yes | Varies by area |
| FHA 203(k) Loan | 3.5% |
30 years, fixed | 640 minimum | Yes | Varies by area |
| Adjustable Rate Mortgage (ARM) | Varies | 3/1, 5/1, 7/1 or 10/1 | Varies | Varies | Varies by area |
| HARP Loan | None | Multiple years, fixed and adjustable | 620 minimum | Yes | $417,000 |
| Down Payment Assistance | None | 30 year fixed | 620 | Yes | Varies by area |
| Portfolio | Varies 10% and up | 30 year fixed and adjustable | Varies 580 and up | Varies | $3 million |
