Question 1

What is an FHA loan?

Accepted Answer

An FHA loan is a mortgage insured by the Federal Housing Administration. It allows down payments as low as 3.5% and is accessible to borrowers with credit scores starting at 580. FHA loans are popular with first-time home buyers.

Question 2

What is a VA loan?

Accepted Answer

A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs. It offers 100% financing with no down payment required for eligible veterans, active-duty service members, and surviving spouses.

Question 3

What is a conventional loan?

Accepted Answer

A conventional loan is a non-government mortgage that meets Fannie Mae and Freddie Mac guidelines. It typically requires a minimum credit score of 620 and offers financing up to 97% of the purchase price.

Question 4

What is a jumbo loan?

Accepted Answer

A jumbo loan is a conventional mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency. For 2026, the conforming loan limit is $832,750 in most counties and $1,249,125 in high-cost areas.

Question 5

What is a Non-QM loan?

Accepted Answer

A Non-QM (Non-Qualified Mortgage) loan is designed for borrowers whose income or financial profile doesn't fit traditional guidelines. It's ideal for self-employed borrowers, gig workers, and those with variable income, using bank statements or 1099s to verify income.

Question 6

How do I get a free mortgage quote?

Accepted Answer

You can get a free mortgage quote by using our online Loan Qualifier tool. Fill out your basic information and receive personalized loan options in minutes with no obligation.

Jumbo Loans — Financing for High-Value Homes Above Loan Limits

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