Home loan options that work for everyone.

Conventional Loans

A conventional loan is a mortgage that is not guaranteed or insured by any government agency, making it a little bit challenging to qualify for. But because this loan isn’t backed by the government, it often tends to be more flexible as far as properties you can choose from, fees, and loan structures available.

If you have a good credit score and the cash to put down, here are some of the benefits from a conventional home loan:

• As little as 3% down payment
• No private mortgage insurance (PMI) is required with 20% or more down
• Mortgage insurance can be removed after reaching 20% equity or paying down to 78% loan to value
• And more!

FHA Loans

An FHA loan is a mortgage issued by federally qualified lenders and insured by the Federal Housing Administration (FHA). FHA loans are designed for low-to-moderate income borrowers who are unable to make a large down payment or have a less than ideal credit score. As a result, this loan option is much easier to qualify for.

If you’re thinking that this loan option may be right for you, check out a few of the benefits as well:

• As little as 3.5% down payment
• Credit scores as low as 580
• Allows higher debt to income percentage, which allows for a higher purchase price
• Down Payment Assistance Programs available

VA Loans

A VA loan is a mortgage loan in the United States that is guaranteed by the U.S. Department of Veterans Affairs. The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry).

This is a great loan option for veterans for many reasons, but here are just a few:

• A 0% down payment
• No monthly mortgage insurance
• Veterans that are considered at least 10% disabled by the Veterans Administration are exempt from VA Funding Fee
• Discounted closing fees

USDA Loans

A USDA loan—also known as the USDA Rural Development Guaranteed Housing Loan Program—is a mortgage loan option offered to rural property owners by the United States Department of Agriculture. This loan option is great for anyone living in the rural areas of the United States that have a lower income.

Why could a USDA loan be a great option for you? If you are below the income limits required for your county, you could benefit from:

• A 0% down payment
• Reduced mortgage insurance premiums
• Below market mortgage rates
• And more!

Jumbo Loans

A jumbo loan is a mortgage loan that's used for properties that go above the federal mortgage limits set by Fannie Mae & Freddie Mac. These loans are designed to finance properties that are much more expensive than the average home, so the criteria to qualify for them are much more strict as well.

Here are a few benefits of our jumbo loan program:



• 90% loans with as little as 10% down with no PMI
• 30, 20, and 15-year fixed programs
• Interest-only and ARM programs
• Projected income with signed job offer/contract acceptable if starting within 60 days of closing (great for relocation clients)

Still unsure about your next step as a homebuyer?

That’s okay—because our team is here to help guide you every step of the way. We don’t want you to feel left out in the dark, but instead to have complete clarity and transparency throughout your entire loan process.

Here at Luminate Home Loans, we truly believe in our mission and core values. We focus on people like you because we understand that character does count. We stay humble and work hard so that the lending process stays approachable and transparent every step of the way.