Finding the right loan program to fit your needs shouldn’t be difficult. With PRMI, we make finding the right mortgage simple, so you can spend more time finding your dream home.

Conventional

Down Payment: 5%

Terms: 15 or 30 years, fixed

Credit Score: 620 minimum

Mortgage Insurance: No (if under 80% loan-to-value)

Maximum Loan: Varies by area

FHA Loan

Down Payment: 3.5%

Terms: 10, 15, 20, 25 or 30 years, fixed and adjustable

Credit Score: 640 minimum (unless approved by FHA Choice)

Mortgage Insurance: Yes

Maximum Loan: Varies by area

VA Loans

Down Payment: None

Terms: 15, 20, 25 or 30 years, fixed and adjustable

Credit Score: 620 minimum

Mortgage Insurance: No

Maximum Loan: Varies by area

Jumbo Loans

Down Payment: 20%

Terms: 15 or 30 years, fixed and adjustable

Credit Score: 700 minimum

Mortgage Insurance: No

Maximum Loan: $2.5 million

Rural Housing (USDA) Loans

Down Payment: None

Terms: 30 years, fixed

Credit Score: 640 minimum

Mortgage Insurance: No (Up-Front Guarantee Fee financed into loan)

Maximum Loan: Varies by area

FHA 203(k) Loan

Down Payment: 3.5%

Terms: 30 years, fixed

Credit Score: 640 minimum

Mortgage Insurance: Yes

Maximum Loan: Varies by area

HARP Loan

Down Payment: None

Terms: Multiple years, fixed and adjustable

Credit Score: 620 minimum

Mortgage Insurance: Yes

Maximum Loan: $417,000

Adjustable Rate Mortgage (ARM)

Down Payment: Varies

Terms: 3/1, 5/1, 7/1 or 10/1

Credit Score: Varies

Mortgage Insurance: Varies

Maximum Loan: Varies

Down Payment Assistance Options

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