Conventional

Type

Limit

Ideal for 

Advantages

ARMS                        

Conforming

• Short-term homeowners

• Clients with future income growth potential

• Low initial interest rate

30-year 

fixed rate   

Conforming

• Long-term homeowners looking for stability

• Long-term interest rate and monthly payment stability

15- year 

fixed rate

Conforming

• Clients looking for stability and speedy payoff

• Interest rate & payment stability

• Faster equity/payoff

• Less overall interest

Jumbo

Conforming

• Clients seeking higher value

• No limit

• Covers more value

Government-insured

Type

Limit

Ideal for

Advantages

FHA                 

Conforming

• Clients with limited 

  credit or income

• Low down payment

• Easier credit and income requirements

VA

Affordability

• Eligible past/present

  service members and 

  spouses

• Low interest rate

• Low down payment

• Costs covered

USDA

Affordability

• Limited income clients

  in USDA designated rural areas

• 100% financing

• Assists limited income clients