This page consolidates the content from Lentor's conventional, FHA, VA, USDA, non-conforming, and jumbo loan pages into one guided experience so borrowers can compare, scan, and go deeper without bouncing between tabs.
Fast Routes
First-time buyers
Often best served by FHA, USDA, or low-down-payment conventional paths.
Veterans and military families
VA financing stands out when eligibility is available.
Rural and suburban buyers
USDA may unlock zero-down financing in eligible areas.
Self-employed borrowers
Bank statement programs can help when tax returns tell an incomplete story.
Real estate investors
DSCR options let the property's cash flow carry more weight.
High-balance purchases
Jumbo loans serve purchases above conforming limits.
This page reflects the current copy on Lentor's loan pages. Final eligibility, fees, insurance, and loan limits should always be confirmed directly with your loan team.
At A Glance
Each card gives the shortest useful read: who the loan tends to fit, what kind of down payment and credit expectations matter most, and what makes the product distinct.
Flexible conforming financing
Strong fit for borrowers with solid credit and flexible property goals.
Lower-down-payment government backing
Designed to make homeownership more reachable with lower down payment and credit thresholds.
Military benefit financing
One of the most powerful homebuying benefits available to eligible military borrowers.
Rural and suburban affordability
Built to make lower-cost homeownership possible in USDA-eligible communities.
Self-employed and investor solutions
Best for self-employed borrowers, 1099 earners, and property investors who need alternative qualification paths.
High-balance financing
For higher-priced homes and borrowers who can support larger balances with stronger credit, reserves, and documentation.
Private-market financing with broad property flexibility, stable fixed-rate options, and down payment paths that can start lower than many buyers expect.
Down payment
As low as 3% for some eligible first-time buyers
Credit
620+ FICO is a common floor
Mortgage insurance
PMI below 20% down, removable later
Works well for
Primary homes, condos, investments, and vacation properties
Overview
A conventional mortgage is not guaranteed or insured by the federal government. Instead, it is offered through private lenders such as banks, credit unions, and mortgage companies.
Conventional mortgages commonly come with a fixed interest rate, which gives borrowers payment stability over the life of the loan. Rates often land below FHA loans and above VA loans.
Conforming conventional loans must stay within the limits set by Fannie Mae and Freddie Mac. Once the loan amount exceeds that limit, it becomes a jumbo or other nonconforming loan.
Borrowers should expect to complete a full mortgage application, pay any required application fees, and provide documentation for income, assets, employment, credit history, and current credit score review.
Qualification Snapshot
Programs and Structure
Private mortgage insurance protects the lender when the down payment is less than 20%.
Conventional financing can cover a broad range of loan structures and property scenarios.
What Stands Out
Frequently Asked Questions
Conventional financing can be used for single-family homes, condos, investment properties, townhomes, lofts, and second vacation homes.
Typically 3% of the sales price, or up to 6% when the down payment is over 10% on a primary residence. Investment properties are capped at 2% seller-paid closing costs.
Pay bills on time, reduce credit balances, and avoid applying for credit too often.
Many conventional purchases close in about 30 days when documentation is ready, information is accurate, and underwriting requests are handled promptly.
If your credit is strong and the down payment works for your situation, a conventional loan can be a strong long-term fit. If not, a government-insured option may be easier to access.
A popular path for first-time buyers, lower-credit borrowers, and households with limited savings who still want a fixed-term mortgage.
Down payment
3.5% with 580+ credit, more if credit is 500-579
Credit
580+ is the common FHA benchmark
Mortgage insurance
Upfront MIP plus annual MIP
Works well for
First-time buyers and borrowers with limited savings
Overview
FHA home loans are insured by the Federal Housing Administration and can only be offered by FHA-approved lenders. They are commonly structured as fixed-term mortgages with either 15- or 30-year terms.
This program is often used by first-time homebuyers in Ohio as well as borrowers with lower credit scores or less cash available for a large down payment.
Sellers, builders, or lenders can help cover some closing costs on an FHA transaction, which can reduce the cash needed at the table.
FHA loans also allow 100% of the down payment to come from an approved gift source, including relatives, employers or labor unions, close friends, charitable organizations, or government and public homeownership-assistance programs.
Qualification Snapshot
Programs and Structure
FHA borrowers pay both an upfront mortgage insurance premium and an annual premium that is charged monthly.
The FHA umbrella includes more than a standard purchase mortgage.
What Stands Out
Frequently Asked Questions
Pre-qualification is an estimate of what you may qualify for based on an interview, while pre-approval requires an application and verification of credit and financial history.
The average FHA approval process often takes between 30 and 60 days.
Pay bills on time, reduce credit balances, and avoid applying for credit too often.
Usually one, unless there are special circumstances such as job relocation, a change in family size, or a co-borrower leaving a shared property to buy their own home.
FHA can be a strong option when cash is tight or credit is still being rebuilt. If your budget is larger and you want a higher-priced home, conventional financing may suit you better.
A government-backed mortgage path for eligible veterans, active-duty service members, and some surviving spouses, often with no down payment and no PMI.
Down payment
0% available for eligible borrowers
Credit
No VA-set minimum, but 620 can help with lenders
Mortgage insurance
No PMI required
Works well for
Eligible veterans, service members, and certain surviving spouses
Overview
VA home loans are guaranteed by the U.S. Department of Veterans Affairs. The program was created in 1944 and has helped more than 24 million borrowers purchase or refinance homes.
Because the loans are backed by a government agency, lenders often feel more comfortable offering them. That support helps make zero-down financing possible and can allow looser credit expectations than many other products.
The stated purpose of the program is to give eligible veterans access to home financing and help them purchase properties without a down payment through qualified lenders.
Qualification Snapshot
Programs and Structure
The VA benefit can be used for more than a standard home purchase.
What Stands Out
Frequently Asked Questions
Yes. Eligibility can be restored in certain situations, especially if the prior VA loan has been paid off.
No. Children of an eligible veteran are not eligible for the benefit.
Available repayment structures can include traditional fixed payments, graduated payment mortgages, and in some areas growing equity mortgages, all without a prepayment penalty.
There is no formal maximum VA loan amount, though lenders may apply their own limits.
VA financing can be an exceptional benefit for eligible borrowers, whether the goal is buying, refinancing, or even rolling in some improvement costs. It is one of the strongest low-cash-entry options on the page when the eligibility box is checked.
A zero-down path backed by the U.S. Department of Agriculture for buyers purchasing in eligible rural and suburban areas.
Down payment
0% for qualifying borrowers
Credit
640+ typically helps automated underwriting
Location
Home must be in a USDA-eligible rural or suburban area
Works well for
Borrowers with moderate income buying outside dense metro cores
Overview
USDA loans are designed to make homeownership more affordable in rural areas and many suburban areas. The backing works similarly to VA financing in that the government support helps lenders offer lower rates than many conventional loans.
Borrowers can purchase a home with no down payment if they qualify, though they still need to account for closing costs.
It also notes that 97% of the U.S. map may be USDA-eligible and that communities with populations of 20,000 or less, and sometimes 35,000 in special cases, can qualify.
Eligibility is address-specific. The USDA website can confirm whether a given property meets the location guidelines for the program.
Qualification Snapshot
Programs and Structure
The USDA umbrella includes both private-lender and direct government options.
USDA rates are often some of the lowest among low-down-payment options.
What Stands Out
Frequently Asked Questions
No. Both first-time and repeat buyers may use USDA financing.
USDA loans do not have a fixed maximum loan amount. The practical cap is based on debt, income, and ability to repay.
There is no USDA-set minimum, but a 640 score is generally needed to use the guaranteed underwriting system.
Yes, as long as the property meets USDA eligibility rules.
USDA can be a standout option for buyers whose address, income, and property goals line up with the program. If the location or income limits do not work, FHA is a common backup route.
Flexible non-QM style options designed for borrowers whose income story does not fit the standard W-2 mortgage box.
Programs
Bank statement and DSCR options
Loan sizes
Up to $3 million
Credit
Starts at 660 for bank statement and 680 for DSCR
Works well for
Self-employed borrowers, independent contractors, and investors
Overview
This page groups together two alternative loan paths: bank statement mortgages and DSCR loans. Both are built for borrowers who may not qualify under traditional income documentation rules.
These programs are especially useful for entrepreneurs, small business owners, freelancers, 1099 earners, and real estate investors who have strong cash flow but need a more flexible way to qualify.
Qualification Snapshot
Programs and Structure
Designed for self-employed borrowers and independent contractors who want income measured through personal or business bank statements instead of tax returns.
Built for investors who want qualification to lean on a property's debt-service coverage ratio rather than personal employment income.
What Stands Out
If standard underwriting keeps breaking on self-employment income or rental-heavy investing, this is where Lentor's more flexible products start to matter. They can open doors that conventional and FHA paths often cannot.
A path for borrowers purchasing or refinancing homes above standard conforming loan limits, with deeper underwriting and more complex documentation.
Loan size
Above FHFA conforming limits
Credit
700+ is common and some lenders may want 720
Reserves
Ten to twelve months may be requested
Works well for
High-balance primary, second, vacation, or investment home purchases
Overview
A jumbo home loan is financing that exceeds the limits set by the Federal Housing Finance Agency. Although jumbo loans are nonconforming, they still need to fit what the Consumer Financial Protection Bureau considers a qualified mortgage.
Because jumbo loans cannot be guaranteed by Fannie Mae or Freddie Mac, lenders take on more risk if the borrower defaults.
That added risk is why jumbo underwriting is usually deeper and more manual than standard conforming lending.
Qualification Snapshot
Programs and Structure
Jumbo financing is typically a more cautious product for lenders.
Jumbo lending is stricter, but it still offers meaningful range.
What Stands Out
Frequently Asked Questions
Jumbo loans are balances above the current conforming maximum backed by the GSEs, with exact thresholds varying by market.
Borrowers are not limited to a 30-year fixed option. Many choose adjustable-rate mortgages to lower the initial rate and payment.
Not always. Jumbo pricing can move above or below conforming rates depending on the market.
Pay bills on time, reduce credit balances, and avoid applying for credit too often.
Jumbo financing can be a great fit when your home purchase sits above conforming limits and your financial profile can support the extra scrutiny. Compare options carefully and make sure the larger balance truly fits your long-term plan.
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