01Flexible home financing
Conventional Loans
Borrowers with established credit who want flexible property, term and down-payment choices.
Explore Conventional ↗Mortgage products explained clearly
Choose the mortgage by fit—not familiarity.
Compare who each program is designed for, how qualification may differ and which tradeoffs deserve a closer look with an HMCO Loan Officer.
Side-by-side comparisons
Start with the decision borrowers actually face.
These comparisons explain common differences at a high level. Eligibility, pricing and final terms depend on the borrower, property and lender guidelines.
Common purchase comparison
Conventional or FHA?
Both may work for an eligible primary-home buyer, but mortgage insurance, property rules and pricing respond to different factors.
Conventional
Flexible uses and program structures
- Often considered by
- First-time or repeat buyers with established credit
- Eligible occupancy
- Primary, second home or qualifying investment property
- Insurance structure
- Private mortgage insurance may apply and may later be removable
- Watch closely
- Credit, occupancy, property type and loan-to-value can affect pricing
FHA
Government-insured qualification flexibility
- Often considered by
- Eligible primary-home buyers seeking flexible guidelines
- Eligible occupancy
- Qualifying primary residence
- Insurance structure
- Upfront and annual FHA mortgage insurance generally applies
- Watch closely
- Property standards and county loan limits apply
For eligible military borrowers
VA or conventional?
VA financing can offer benefit-backed features for an eligible primary home. Conventional financing may provide broader occupancy choices.
VA
Built around an earned housing benefit
- Often considered by
- Eligible veterans, service members and certain surviving spouses
- Eligible occupancy
- Qualifying primary residence
- Insurance structure
- No monthly private mortgage insurance; a funding fee may apply
- Watch closely
- Entitlement, occupancy and property requirements apply
Conventional
Broader property-use flexibility
- Often considered by
- Qualified first-time and repeat buyers
- Eligible occupancy
- Primary, second home or qualifying investment property
- Insurance structure
- May apply based on program and down payment
- Watch closely
- Credit and loan-to-value can materially affect pricing
Location and household eligibility matter
USDA or FHA?
USDA is tied to eligible locations and household-income rules. FHA may be considered more broadly for an eligible primary residence.
USDA
Homeownership in eligible communities
- Often considered by
- Eligible buyers in USDA-designated areas
- Eligible occupancy
- Qualifying primary residence
- Insurance or fees
- Upfront and annual guarantee fees generally apply
- Watch closely
- Property location and household-income limits apply
FHA
Flexible primary-home financing
- Often considered by
- Eligible buyers seeking flexible qualification guidelines
- Eligible occupancy
- Qualifying primary residence
- Insurance or fees
- Upfront and annual mortgage insurance generally applies
- Watch closely
- County loan limits and property standards apply
Alternative qualification methods
DSCR or bank statement?
DSCR centers on eligible investment-property cash flow. Bank statement programs use an alternative way to calculate qualifying self-employment income.
DSCR
Property-focused investor financing
- Often considered by
- Real estate investors financing eligible rental property
- Qualification focus
- Eligible property rental income and housing expense
- Property use
- Non-owner-occupied investment property
- Watch closely
- Down payment, reserves and prepayment terms may apply
Bank statement
Alternative self-employment income review
- Often considered by
- Eligible self-employed borrowers with nontraditional tax-return income
- Qualification focus
- Eligible deposits after program expense calculations
- Property use
- May include primary, second-home or investment scenarios
- Watch closely
- Statement period, deposits and expense factors vary by lender
Complete product library
Explore every HMCO mortgage category.
Open a product page for who it may fit, key benefits, important tradeoffs, comparisons and answers to common questions.
02Government-insured financing
FHA Loans
Eligible buyers who may benefit from lower down-payment options or more flexible credit guidelines.
Explore FHA ↗03A benefit for eligible military borrowers
VA Loans
Eligible military borrowers purchasing or refinancing an eligible primary residence.
Explore VA ↗04Financing for eligible rural areas
USDA Loans
Eligible primary-home buyers purchasing in a USDA-designated area who meet household-income limits.
Explore USDA ↗05Financing above conforming limits
Jumbo Loans
Qualified borrowers purchasing or refinancing higher-priced properties that require financing above conforming limits.
Explore Jumbo ↗06Property-focused investor financing
DSCR Investment Loans
Real estate investors seeking financing based primarily on eligible property rental income.
Explore DSCR ↗07Alternative income documentation
Bank Statement Loans
Self-employed borrowers whose cash flow may not be fully reflected by traditional tax-return calculations.
Explore Bank Statement ↗08Financing beyond standard agency guidelines
Non-QM Loans
Eligible borrowers with nontraditional income, recent credit events or specialized property and investment needs.
Explore Non-QM ↗ Compare the complete loan
Four questions matter more than the product label.
The lowest initial payment is not automatically the best long-term fit. Review the structure with the full financial goal in mind.
Can I qualify?
Credit, income documentation, assets, occupancy and property requirements all matter.
How much cash is needed?
Compare down payment, closing costs, reserves and potential assistance.
What is the monthly cost?
Review principal, interest, taxes, insurance and mortgage insurance or fees.
What is the long-term tradeoff?
Consider total interest, adjustable terms, insurance duration and future plans.