Loan Products
FHA Loans
Federal Housing Administration (FHA)
FHA loans are government-backed mortgages designed to make homeownership more accessible. They offer flexible credit requirements and low down payment options, making them a popular choice for first-time and credit-challenged buyers.
Who is it for?
First-time homebuyers
Buyers with limited savings for a down payment
Borrowers with lower credit scores or limited credit history
General Qualifications
Minimum down payment as low as 3.5%
More flexible credit score requirements
Steady employment and verifiable income
Primary residence only
Mortgage insurance required
Conventional Loans
Conventional loans are not backed by the government and are ideal for borrowers with strong credit and stable income. They offer competitive interest rates and flexible terms.
Who is it For?
Buyers with good to excellent credit
Homeowners looking to refinance
Buyers seeking lower long-term costs
General Qualifications
Down payment as low as 3% (for qualified borrowers)
Higher credit score requirements than FHA
Stable income and employment history
Private Mortgage Insurance (PMI) required if down payment is less than 20%
VA Loan
Department of Veteran Affairs (VA)
VA loans are exclusive to eligible veterans, active-duty service members, and certain surviving spouses. These loans offer exceptional benefits and low borrowing costs.
Who Is It For?
Veterans and active-duty military members
Eligible surviving spouses
General Qualifications
No down payment required
No private mortgage insurance (PMI)
Valid Certificate of Eligibility (COE)
Primary residence only
Minimum credit requirements vary by lender
USDA Loans
United States Department of Agriculture (USDA)
USDA loans are designed to promote homeownership in eligible rural and suburban areas. They offer affordable financing with zero down payment options.
Who is it for?
Buyers purchasing in eligible rural or suburban areas
Low-to-moderate income households
General Qualification
No down payment required
Property must be in a USDA-eligible area
Income limits apply
Primary residence only
Stable income and reasonable credit history
DSCR Loans
DSCR Loans (Debt Service Coverage Ratio)
DSCR loans are designed for real estate investors and are based on a property’s cash flow rather than personal income. Approval focuses on rental income potential.
Who is it for?
Real estate investors
Buyers purchasing rental or investment properties
Self-employed investors seeking alternative qualification methods
General Qualifications
Loan approval based on rental income vs. mortgage payment
No personal income verification required
Minimum credit score requirements apply
Investment properties only
Down payment requirements vary usually from 15%-25%
MFinity Solutions is an Equal Housing Lender powered by Equity Smart Home Loans.
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