Choose the Right Mortgage Loan Type
Understanding your options is the first step to a smart decision. Compare features and requirements, and focus on all-in costs like points and closing fees, not just the headline rate.
Conventional Mortgage
A conventional mortgage is a home loan that is not backed by a government agency. It is the most common option and usually rewards stronger credit, steady income, and cash to close.
Jumbo Loan
A jumbo loan is a mortgage that is larger than the conforming limit set each year. It is common in higher-cost markets and usually has stricter underwriting.
Adjustable-Rate Mortgage (ARM)
An adjustable-rate mortgage starts with a lower initial rate for a set period, then adjusts on a schedule. It can work if you expect to move or refinance before the adjustments matter.
FHA Loan
An FHA loan is a mortgage insured by the Federal Housing Administration. The insurance lets approved lenders accept a 3.5% down payment and lower credit scores than most conventional loans, in exchange for mortgage insurance premiums paid by the borrower.
DSCR Loan
A DSCR loan is a mortgage for an investment property that qualifies on the property rather than on your personal income. The lender compares the rent the property earns with its full monthly housing payment: the debt service coverage ratio.
Bank Statement Loan
A bank statement loan is a mortgage that documents income with 12 to 24 months of bank deposits instead of tax returns. It is built for self-employed borrowers whose tax returns show less income than they actually earn.
Home Equity Line of Credit (HELOC)
A home equity line of credit is a revolving credit line secured by your home. You borrow what you need during a draw period, pay interest on the amount outstanding, and then repay the balance over a set repayment period. The rate is usually variable.
Programs Ralo does not offer
Ralo does not broker these, but they are worth knowing if you qualify: how VA loans work and how USDA loans work.
Not Sure Which Loan Is Right for You?
Mortgage pricing is opaque. Compare rate, points, and fees side by side so you can see the real cost. Ralo shows every line item so you can compare mortgage options more clearly.
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