1. Conforming Loans:

- Offered for residential properties that meet specific loan limit criteria set by Fannie Mae and Freddie Mac.

- Typically have competitive interest rates and favorable terms.

- Suitable for individuals who meet the standard requirements for income, credit score, and down payment.

2. Jumbo Loans:

- Available for high-value homes that exceed the maximum loan limit set by Fannie Mae and Freddie Mac.

- May require higher credit scores, lower debt-to-income ratios, and a larger down payment.

- Provides financing options for purchasing or refinancing luxury properties.

3. FHA Loans:

- Backed by the Federal Housing Administration (FHA) and designed for first-time homebuyers or those with limited down payment funds.

- Offers more lenient qualification requirements, including lower credit score thresholds and a smaller down payment.

- Provides options for individuals who may not qualify for conventional loans.

4. VA Loans:

- Exclusive to active-duty military personnel, veterans, and their eligible spouses.

- Guaranteed by the Department of Veterans Affairs (VA) with flexible eligibility criteria and no requirement for private mortgage insurance (PMI).

- Enables veterans to purchase or refinance a home with favorable terms and potentially no down payment.

5. USDA Loans:

- Supported by the United States Department of Agriculture (USDA) and available for eligible rural and suburban properties.

- Offers low-interest loans with no down payment requirement for individuals or families with moderate incomes.

- Helps make homeownership affordable in designated areas outside major metropolitan areas.

6. Construction Loans:

- Designed for building a new home from scratch or completing significant renovations.

- Provides funding in stages throughout the construction process.

- Once construction is complete, the loan can be converted to a conventional mortgage or refinanced.

7. Home Equity Loans:

- Allows homeowners to borrow against the equity they have built in their property.

- Can be used for various purposes, such as home improvements, debt consolidation, or major expenses.

- Interest rates may be lower compared to other types of loans since the home serves as collateral.

8. Home Equity Lines of Credit (HELOC):

- Similar to home equity loans, but instead of a lump-sum payment, it provides a credit line that can be accessed as needed.

- Flexibility to borrow and repay multiple times during the draw period.

- Interest rates may fluctuate since HELOCs are tied to an index rate.

9. Reverse Mortgages:

- Available for homeowners aged 62 and older to convert a portion of their home equity into loan proceeds.

- Enables seniors to supplement their income while retaining ownership of the home.

- Repayment is typically deferred until the borrower sells the home, moves out, or passes away.

10. Investment Property Loans:

- Tailored financing options for individuals purchasing residential properties as investments or rental properties.

- Terms and qualification requirements may differ from traditional home loans.

- Helps investors expand their real estate portfolio and generate rental income.