Loan Program Basics
A neutral overview of common loan program categories — without rates or eligibility claims.
There are several broad categories of mortgage programs. The right fit depends on your situation, and a licensed loan originator can confirm current details and eligibility.
Common categories
Buyers often hear about a handful of broad program types. Each has its own guidelines, and specifics change over time.
- Conventional loans
- Government-backed loans (such as FHA, VA, and USDA programs)
- Jumbo loans for higher-priced homes
Choosing what fits
Rather than starting with a program, it often helps to start with your goals and numbers. From there, a licensed loan originator can explain which programs you may qualify for and the trade-offs involved.
Frequently Asked Questions
This guide is general educational information and not financial, legal, or tax advice. Speak with Bart Poynor, Licensed Mortgage Loan Originator, about your specific situation.
More Getting a Mortgage Guides
- How Pre-Approval WorksWhat pre-approval is, how it differs from pre-qualification, and why starting early helps you shop with confidence.
- What Lenders Look AtThe core factors behind a mortgage decision and how to prepare each one.
- How Much Can You AffordWhy your maximum approval is a ceiling, not a budget, and how to find a comfortable payment.
- Your Monthly PaymentA breakdown of what's actually inside your monthly mortgage payment.
- Documents You'll NeedA general checklist of paperwork to gather before you apply.
- Down Payment & Closing CostsWhat the down payment and closing costs are, and how to plan for both.
- Common Mortgage MistakesAvoidable moves that put a closing at risk, and how to stay on track.
- Construction & RenovationHow building or renovating changes the financing picture.
- Refinancing BasicsWhat refinancing is and common reasons buyers consider it.
Questions about financing?
Bart can walk you through your options and what to expect.