1. Conventional Loans:

- Traditional mortgage loans offered to borrowers who meet standard eligibility requirements.

- Generally require a down payment of at least 3%, but offering higher down payment options can help lower the interest rate.

- Suitable for homebuyers with a stable income and good credit history.

2. FHA Loans:

- Backed by the Federal Housing Administration (FHA) and designed to assist individuals with lower credit scores or limited down payments.

- Allows a down payment as low as 3.5%.

- Mortgage insurance is required, protecting the lender in case of default.

3. VA Loans:

- Available exclusively to eligible veterans, active-duty personnel, and surviving spouses.

- Offered by the U.S. Department of Veterans Affairs (VA).

- Provide favorable terms including no down payment requirement and competitive interest rates.

4. USDA Loans:

- Aimed at rural and suburban homebuyers with low to moderate incomes.

- Provided by the United States Department of Agriculture (USDA).

- Zero down payment option available in designated rural areas.

5. Jumbo Loans:

- Designed to finance luxury or high-value properties that exceed conventional loan limits.

- Require a larger down payment and stricter qualification criteria compared to traditional loans.

- Ideal for buyers looking to finance expensive homes.

6. Renovation Loans:

- Enable financing for both the purchase price and renovation costs of a property.

- Options may include FHA 203(k) or Fannie Mae HomeStyle loans.

- Ideal for homebuyers looking to purchase fixer-uppers and make desired improvements.

7. Reverse Mortgage Loans:

- Available to homeowners aged 62 and older.

- Allow seniors to convert a portion of their home equity into cash or a line of credit.

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

8. First-Time Homebuyer Loans:

- Tailored programs to assist individuals purchasing their first homes.

- May offer down payment assistance, reduced interest rates, or other perks.

- Help make homeownership more accessible for new buyers.

9. Construction Loans:

- Provide financing for constructing a new home or substantial renovations.

- Different loan options available, such as construction-to-permanent loans.

- Funds disbursed in stages as the construction progresses.

10. Investment Property Loans:

- Specifically for real estate investors looking to purchase rental properties.

- Offer various loan products, including conventional or portfolio loans.

- Borrowers must demonstrate the ability to repay based on rental income or other qualifying factors.