Home Loan Options
At Calculating A Mortgage Loan, we help you explore the best mortgage solutions available so you can make informed financial decisions with confidence. Whether you’re a first-time homebuyer, looking to refinance, or investing in real estate, understanding your loan options is crucial. Our advanced mortgage calculator allows you to compare different loan programs and estimate your monthly payments with precision, giving you the insights needed to choose the right mortgage for your needs.
Here’s a breakdown of the top mortgage loans available in today’s market:
Conventional Loans
- Ideal for borrowers with good credit and stable income
- Available in fixed-rate and adjustable-rate (ARM) options
- Minimum 3% down payment for qualified borrowers
- No upfront mortgage insurance for down payments 20% or more
- Buy out MI, mortgage insurance, available
- Credit score down to 620
FHA Loans (Federal Housing Administration)
- Great for first-time homebuyers or those with lower credit scores
- Minimum 3.5% down payment
- More lenient qualification requirements
- Requires mortgage insurance (MIP), but allows for low rates
- Credit score down to 580
VA Loans (Veterans Affairs)
- Exclusive to eligible veterans, active-duty military, and spouses
- Zero down payment required
- No private mortgage insurance (PMI)
- Competitive interest rates with flexible qualification terms
- Credit score down to 580
Jumbo Loans
- Designed for high-value homes exceeding conventional loan limits ($806,500+ in most areas) i.e. Miami Dade County in Florida
- Ideal for luxury homebuyers, high-net-worth individuals, and investors
- Requires higher credit scores and strong financial reserves typically 680 +
- Available in fixed and adjustable-rate options
Interest-Only Loans
- Lower monthly payments initially, ideal for short-term investment strategies
- Payments cover only interest for a set period, then convert to full principal + interest payments
- Best for borrowers with fluctuating income or those planning to refinance later
Adjustable-Rate Mortgages (ARM)
- Lower initial interest rates than fixed-rate mortgages
- Rate adjusts after a set period of 5, 7, or 10 years
- Suitable for short-term homeowners or those expecting income growth
Fixed-Rate Mortgages
- Consistent monthly payments for the entire loan term like 15, 20, or 30 years
- Best for long-term stability and those who plan to stay in their home for years
- Protects against market interest rate fluctuations
Non-QM (Non-Qualified Mortgage) Loans
- For self-employed individuals, real estate investors, and those with unique income structures, Non-QM loans provide alternative financing solutions. These loans are not bound by traditional income verification methods, making homeownership accessible to a broader range of borrowers.
Bank Statement Loans
- Designed for self-employed borrowers
- Uses 12-24 months of bank statements instead of tax returns for income verification
- No W-2s or tax returns required
- Available for primary homes, second homes, and investment properties
- Minium credit score 620
1099 Income Loans
- Perfect for independent contractors, freelancers, entrepreneurs, realtors, gig workers
- Uses 1099 tax forms instead of traditional W-2s for income verification
- No need to provide full tax returns
- Minium credit score 620
Profit & Loss (P&L) Loans
- Great for business owners with complex financials
- Uses a CPA-prepared Profit & Loss statement instead of tax returns or Tax preparer
- Helps borrowers who write off expenses but still have strong cash flow
- Minium credit score 640
DSCR Loans (Debt Service Coverage Ratio)
- Designed for real estate investors
- Qualification is based on rental income, not personal income or tax returns
- No employment verification required
- Perfect for rental properties and portfolio expansion
- Debt Service Ratio .75 or no ratio available
- Minium credit score 640
Find the Right Loan with Our Mortgage Calculator
Choosing the right mortgage is a crucial financial decision, and our cutting-edge mortgage calculator helps you compare different loan options based on:
- Loan Amount
- Interest Rate
- Loan Term
- Down Payment
- Estimated Taxes & Insurance At Calculating A Mortgage Loan, we provide the tools and expertise to help you navigate the home loan process with confidence. Use our mortgage calculator today and start planning your next move!
