Loan Programs
Find the Loan That Fits Your Life
Every buyer's situation is different. Here's a plain-English breakdown of the most common loan types — what they are, who they're for, and what to expect.
FHA Loans
Low down payment, flexible credit requirements — a great starting point for most first-time buyers.
Down payment
As low as 3.5%
Minimum credit score
580 (with 3.5% down)
Mortgage insurance
Required (upfront + annual)
Loan limits (SoCal)
Up to $1,149,825 in high-cost counties
Who it's for
FHA loans are backed by the federal government, which means lenders can offer them to buyers with lower credit scores or smaller savings. If you're buying your first home and don't have 20% saved, this is often the best place to start.
Things to know
FHA loans require mortgage insurance for the life of the loan unless you refinance. That adds to your monthly payment — but for many buyers, the lower barrier to entry is worth it.
Conventional Loans
Lower long-term costs and no lifetime mortgage insurance once you hit 20% equity.
Down payment
As low as 3% (with PMI)
Minimum credit score
620 (better rates at 740+)
Mortgage insurance
Required under 20% down, cancels at 20% equity
Loan limits
Up to $766,550 (conforming); jumbo above that
Who it's for
If you have solid credit (700+) and a stable income, a conventional loan often makes more financial sense over the long run. You can cancel PMI once you've built enough equity — something FHA doesn't allow without refinancing.
Things to know
Conventional loans have stricter credit requirements than FHA, but they're more flexible in other ways — you can use them for primary homes, second homes, and investment properties.
Down Payment Assistance
California programs that can cover part or all of your down payment — even if you think you earn too much.
Assistance amount
Up to $150,000 depending on program
Income limits
Vary by program and county
Repayment
Some are grants; others are deferred loans
Programs available
CalHFA, GSFA, local city/county programs
Who it's for
Many first-time buyers assume they won't qualify for assistance — and they're wrong. California has multiple programs for moderate-income buyers, not just low-income. If you're buying in Southern California, there's a good chance at least one program applies to you.
Things to know
These programs change frequently and vary by county. The best way to find out what you qualify for is to have a conversation — I'll run the numbers with you.
VA Loans
Zero down payment, no private mortgage insurance — one of the best loan benefits available.
Down payment
0% — no down payment required
Mortgage insurance
None (VA funding fee applies)
Credit score
No official minimum; most lenders require 620+
Eligibility
Active duty, veterans, surviving spouses
Who it's for
If you've served in the military, a VA loan is almost always the best option available to you. No down payment, no PMI, and competitive interest rates — it's one of the most valuable benefits of military service.
Things to know
VA loans require a Certificate of Eligibility (COE). I'll help you get that as part of the process. There is a one-time VA funding fee, but it can be rolled into the loan.
Side-by-Side Comparison
| Feature | FHA | Conventional | Down Payment Assist. | VA |
|---|---|---|---|---|
| Min. Down Payment | 3.5% | 3% | 0–3.5% | 0% |
| Min. Credit Score | 580 | 620 | 640+ | 620+ |
| Mortgage Insurance | Required | Under 20% | Varies | None |
| Who It's For | Most buyers | Strong credit | Income-eligible | Veterans |
Not Sure Which Loan Is Right for You?
That's exactly what I'm here for. Tell me your situation and I'll tell you which programs you qualify for — no guessing, no pressure.