Mortgage payment calculator

When navigating the landscape of loan products and programs, it's crucial to understand the various options available to you. For those looking to purchase a home, there are several types of loans to consider. 

• First-time homebuyers may benefit from specialized programs designed to make homeownership more accessible. 
• Veterans can take advantage of VA loans, which often come with favorable terms. 
• Conventional loans are standard options for many buyers
•  FHA loans are government-backed and may be ideal for those with lower credit scores. 
• Jumbo loans cover amounts that exceed conventional loan limits
• Interest-only payment options can help manage cash flow initially. 
• For those refinancing (REFI) their existing mortgage, opportunities include lowering monthly payments or adjusting the loan term. 
• If you need to access home equity, a cash-out refinance allows you to receive funds for other financial needs. 
• Additionally, bank statement loans cater to self-employed individuals by considering bank deposits instead of traditional income verification. 

Understanding these options can help you make an informed decision tailored to your financial situation and homeownership goals.