Conventional loans
Explore home financing outside government-backed loan programs, with options shaped by your property, finances and borrowing needs.
Loan programs
Start with your goals. Explore financing for a home purchase, a refinance or an investment property, then review the details with FYZL.
Explore your options
Compare the purpose and documentation behind each program. Availability and terms depend on your circumstances and lender review.
Jumbo loans
For financing above conforming loan limits. Documentation, reserves and other requirements depend on the lender and property.
FHA loans
Learn about mortgages insured by the Federal Housing Administration, including mortgage insurance and borrower requirements.
VA loans
Explore VA-backed financing for eligible veterans, service members and surviving spouses. Eligibility and lender review still apply.
Bank statement loans
Explore alternative income documentation for self-employed borrowers. Lenders review bank statements alongside the rest of your financial picture.
Asset-based loans
Learn how qualifying assets may be considered in an income assessment. Eligible assets and calculation methods vary by program.
Multifamily DSCR loans
Explore multifamily financing that considers property income relative to debt payments, along with the lender’s other underwriting requirements.
Understand the loan terms
A loan program, its interest rate and its repayment structure are different choices. These explanations can help you prepare questions; they do not confirm program availability.
Fixed and adjustable rates
A fixed-rate mortgage keeps the same interest rate and scheduled principal-and-interest payment. Taxes and insurance can still change the total payment.
An adjustable-rate mortgage (ARM) can change after its initial fixed period. Hybrid ARMs combine that fixed period with later adjustments. Review the index, lender margin, adjustment schedule and rate caps to understand how payments could change.
Interest-only, balloon and graduated payments
Interest-only: scheduled payments cover interest for a limited period without reducing principal. Later payments or a remaining balance can be larger.
Balloon: a substantial final payment remains due at the end of the agreed term. Review how you would repay it without assuming you can refinance.
Graduated payments: scheduled payments increase over an initial period. Review the full payment schedule and whether early payments cover the interest due.
Reverse mortgages
A reverse mortgage lets qualifying homeowners borrow against home equity. Interest and fees can increase the balance over time, and repayment is eventually required. Taxes, insurance, property upkeep and occupancy obligations still matter.
Ask about eligibility, counseling, costs and repayment triggers before deciding whether this type of loan fits your plans.
Choosing a program
Consider your property, income documentation, available funds and how long you expect to keep the loan. Compare the full payment, closing costs and long-term cost—not just the starting rate.
When comparing offers, review the lenders’ Loan Estimates and ask how the payment could change.
Historical program: HARP 2.0. The Home Affordable Refinance Program ended on December 31, 2018 and is not an active offering. Fannie Mae’s 2018 report (PDF)
Financing is subject to eligibility, underwriting and lender approval. Programs and terms vary. This page does not constitute a commitment to lend.