We are experts at finding the right home loan for each borrower, whatever their circumstances. If you don’t see the loan type that you’re interested in learning more about below in this list of mortgage loan products, please contact Vic.
Adjustable Rate Mortgage (ARM)
An adjustable rate mortgage, or ARM, is a loan with a payment that amortizes over 30 years but an interest rate that is fixed for only an initial period. Common options are 3, 5, 7, or 10 years, often called 5/6 or 7/6 ARMs. During that introductory period, the rate may be lower than on a comparable 30-year fixed mortgage, which is why many borrowers choose an ARM.
After the fixed period ends, the rate adjusts at regular intervals, most commonly every six months or once a year, for the rest of the loan. It can go up or down with market conditions, so your payment can change. ARMs include rate caps that limit how much the rate can rise at the first adjustment, at each adjustment after that, and over the life of the loan. Your cap structure is one of the most important details to understand before you choose one.
ARMs work well for buyers and investors who expect to sell, move or refinance before the fixed period ends, and for borrowers who can comfortably absorb a higher payment if rates rise. We offer ARMs in conventional, jumbo, FHA, and VA programs, depending on the loan. They are more complicated than a fixed-rate loan, so let’s talk through the numbers together, by phone or in person, and compare an ARM against a fixed rate for your plans.
Commercial Real Estate Financing
We have access to commercial loan products for buying or refinancing apartment buildings, mixed-use properties, and other income-producing real estate, as well as for renovating a property you already own. Any residential building with five or more units requires a commercial loan, and mixed-use properties are often financed this way too, depending on how much of the space is commercial.
Commercial loans work differently from home loans. They are typically qualified on the property’s income and the strength of the investment, along with your experience and financial profile. Many commercial loans have a balloon feature: the payment is calculated over a long amortization, often 25 to 30 years, but the loan term is shorter, commonly 5, 7, or 10 years, when the remaining balance comes due. Most borrowers plan for that date by refinancing or selling the property, so it’s worth building that plan into the deal from the start. Terms, rates, and prepayment penalties vary by lender and property type.
Every property is different, so tell us what you’re buying or improving and we’ll match you with the commercial financing that fits. If you’re looking at short-term financing for a renovation or fix-and-flip, see our fix-and-flip loan options.
Conventional Loan
A conventional mortgage is a loan that isn’t guaranteed or insured by a government agency like the FHA, VA, or USDA. Conventional loans are the most common type of home loan, and they can be a great match for borrowers with a solid credit history who want a variety of down payment options and loan amounts. Down payments can be as low as 3% for qualified buyers, and mortgage insurance can be removed once you have built enough equity. Fixed-rate loans are the most popular, and adjustable-rate options are available too.
There are several types of conventional loans, depending on the loan amount:
Conforming loans follow the guidelines and loan limits set by Fannie Mae and Freddie Mac, the government-sponsored enterprises that buy most conventional mortgages.
High-balance conforming loans cover higher loan amounts in counties where home prices are above the standard limit, with guidelines similar to conforming loans.
Jumbo loans are for loan amounts above the conforming limits. Because they are not bound by Fannie Mae or Freddie Mac limits, they can finance higher-priced homes.
Portfolio loans are held by the lender instead of sold, so the lender sets its own guidelines. That can open up options for borrowers or properties that don’t fit standard guidelines.
Conventional loans can come with low closing costs and flexible payment options. Tell us about your plans, and we’ll compare conventional programs against FHA, VA, and USDA to find the best fit.
FHA Loan
An FHA loan is a mortgage insured by the Federal Housing Administration, which lets lenders offer more flexible qualifying guidelines. It’s popular with first-time buyers and repeat buyers alike, and it can be a great path to homeownership if you have a smaller down payment or a credit history that isn’t perfect.
FHA loans are less driven by credit score than most other programs. Qualifying scores start at 580 for the minimum 3.5% down payment, and borrowers with lower scores may still qualify with a larger down payment. Lender guidelines vary, so your options depend on the program. FHA also allows higher debt-to-income ratios in many cases, and your down payment can come from a gift or from an approved down payment assistance program. When FHA is combined with down payment assistance, your out-of-pocket cost can come down to 1% or even 0%.
FHA loans carry mortgage insurance, with an upfront premium that can be financed into the loan and a monthly premium. Rates are competitive, and often better than conventional rates for borrowers with lower credit scores. Many FHA borrowers later refinance into a conventional loan once their credit and equity improve, which can remove the mortgage insurance. FHA is also the program behind the 203(k) renovation loan. We work with FHA-approved lenders and will compare FHA against your other options to find the best fit.
Fixed Rate Mortgage
The fixed-rate mortgage is the most common type of home loan, and its appeal is simple: your interest rate and your monthly principal and interest payment stay the same for the life of the loan. That makes budgeting easy, and it protects you if market rates rise. Your total payment can still change if your property taxes or homeowners insurance change, but the principal and interest portion won’t.
Fixed-rate loans are most often offered in 30, 20, 15, and 10-year terms. A longer term gives you a lower monthly payment, while a shorter term typically comes with a lower rate and saves you a significant amount in total interest. Many lenders also offer custom terms in one-year increments, so if you want a 17-year or 23-year mortgage, we can find those options as well. Extended terms, such as 40-year fixed, are available on select programs for borrowers who want a lower payment. Fixed rates are available on conventional, jumbo, FHA, VA, and USDA loans. Most owner-occupied fixed-rate loans can be paid off early at any time without a prepayment penalty.
Not sure whether a fixed rate or an adjustable rate fits your plans? Tell us how long you expect to keep the home, and we’ll compare the options side by side.
Hard Money / Private Money
Hard money and private money loans are short-term, asset-based loans funded by private investors or lending companies and secured by real estate. Approval focuses on the property, its value, and the strength of the deal, with less emphasis on the borrower’s income and credit profile. That makes them a good fit for investors who need to close quickly or whose project doesn’t fit conventional guidelines, such as a property in poor condition or a purchase on a tight timeline.
Because the lender is taking more risk and moving faster, these loans cost more than conventional financing. Interest rates are higher, and there are typically origination fees, or points, along with other closing costs. Borrowers should expect to bring more cash to the deal than they would with conventional lending. On a purchase, that means a larger down payment, although many programs also finance a portion of the rehab budget. On a refinance, the property needs more equity than conventional lending requires. Loan amounts are typically based on a percentage of the property’s current value or of its after-repair value (ARV).
Hard money loans are short-term, commonly 6 to 24 months and sometimes up to 3 years, usually with interest-only payments and the balance due at the end of the term. Most borrowers plan to pay off the loan by selling the property or refinancing into long-term financing, such as a DSCR or conventional loan. They are especially useful for fix-and-flip and renovation projects. Tell us about the property and your plan, and we’ll match you with the right lender and structure an exit strategy that works.
Jumbo & Non-Conforming Loans
Home prices in California have risen to the point where many buyers need a jumbo loan. A jumbo loan is a mortgage above the conforming loan limit, the maximum amount that Fannie Mae and Freddie Mac can purchase. The Federal Housing Finance Agency adjusts that limit every year. For 2026, the one-unit baseline is $832,750 and the high-cost ceiling is $1,249,125. Alameda, Contra Costa, Marin, San Francisco, San Mateo, and Santa Clara counties are among those that use the high-cost ceiling. See the complete 2026 conforming loan limits and source.
Jumbo loans are one type of non-conforming loan, meaning a loan above the Fannie Mae and Freddie Mac limits. Lenders set their own guidelines for these loans, and some jumbo programs follow Fannie Mae underwriting guidelines closely, including debt-to-income ratios up to 50% and Desktop Underwriter (DU) approval, so qualifying can feel much like a conforming loan. Jumbo financing is available for purchases and refinances, with fixed and adjustable rates. The right program depends on your loan amount, down payment, and credit profile, so we compare several lenders for you.
Non-conforming also includes portfolio loans, which lenders keep in-house, and alternative programs such as DSCR and bank statement loans for borrowers who don’t fit standard guidelines. Tell us about your purchase or refinance, and we’ll match you with the best option.
Renovation Loans
Whether you’re buying a fixer-upper or improving a home you already own, a renovation loan lets you finance the property and the cost of the work in a single mortgage, so you don’t need cash up front for repairs.
FHA 203(k). We have access to the FHA 203(k) through multiple lenders. It can fund repairs and improvements on a home you’re buying or one you already own, including a property in disrepair. It’s one loan and one closing, with the renovation funds held in escrow and released as the work is completed. If the work builds enough equity, you may later be able to refinance into a conventional loan and get out from under mortgage insurance once you meet the equity requirements.
Conventional renovation loans. Conventional programs such as Fannie Mae HomeStyle and Freddie Mac CHOICERenovation also roll the purchase or refinance and the improvements into one loan. They can offer more flexibility on the types of improvements, and conventional mortgage insurance can be removed later as your equity grows.
Other ways to fund a renovation. Beyond these programs, there are other strategies, such as conventional cash-out refinances, HELOCs or second mortgages if you already have equity, and hard money or private money lenders for short-term or heavier projects. We also have access to construction lending that doesn’t require going through FHA.
Investors and fix-and-flip. If you’re buying, renovating and selling or refinancing for investment, we also offer fix-and-flip loan options, including hard money financing that can cover both the purchase and the rehab budget. See our fix-and-flip loan options.
Not sure which approach fits your project? Tell us about the property and the work you have planned, and we’ll match you to the right option.
Reverse Mortgage
Reverse mortgages are a growing part of the industry as the baby boomer generation reaches retirement age. A reverse mortgage lets homeowners tap the equity in their home to supplement their income and “age in place,” staying in the home they love longer, without making a monthly mortgage payment. Many seniors with equity in their homes are finding it a useful retirement planning tool.
HECM (federally insured). The only reverse mortgage insured by the U.S. Federal Government is the Home Equity Conversion Mortgage (HECM). It is available through FHA-approved lenders, and I work with multiple FHA-approved lenders to find the right fit for you.
Proprietary (jumbo or portfolio) reverse mortgages. For homeowners with higher-value homes, there are also non-HECM reverse mortgage programs offered by private lenders, often called proprietary, jumbo or portfolio reverse mortgages. These are not limited by the FHA loan limit, so they can offer larger loan amounts. Some programs also have different age, property and eligibility guidelines than the HECM, which can open options for borrowers who don’t fit the HECM box.
Which is right for you? Each program has its own rules, costs and trade-offs, so comparing them side by side is the best way to decide. I’m happy to consult by phone or in person with anyone who wants to learn more about reverse mortgage options. My hours are flexible, and I can work evenings and weekends when needed. Understanding reverse mortgages is a process that takes time and patience, and I have plenty of both to share.
Straight Deal Mortgage is not a government agency and is not affiliated with or acting on behalf of HUD, FHA, VA, USDA, or any other government agency.
USDA Loan
The USDA loan is a federally backed program that helps moderate-income buyers purchase a home in an eligible rural or suburban area with no down payment. It is guaranteed by the U.S. Department of Agriculture’s Rural Development program, which makes 100% financing possible for qualified buyers. The program is for owner-occupied primary residences, not farms or investment properties, and many areas that don’t feel rural are eligible, including some suburban communities outside major cities.
To qualify, the property must be in a USDA-eligible area and your household income must fall within the program’s limit for your county and household size. Those limits are higher than many people expect, and they take the whole household into account. Credit, employment and debt-to-income guidelines apply, but the program is more flexible than many buyers assume. USDA loans typically come with competitive fixed rates, and mortgage insurance costs are generally lower than FHA’s, with an upfront fee that can be financed and a lower annual fee.
Eligibility depends on both the address and your income, and the eligible map changes over time. Tell us the area you’re looking in, and we’ll check the property and your qualifications quickly, then compare USDA against VA, conventional, and FHA programs to find the best fit.
VA Loans
The VA home loan is one of the strongest mortgage benefits available to those who have served. Eligible veterans, active-duty service members, National Guard and Reserve members, and some surviving spouses can purchase with zero down, with no monthly mortgage insurance and competitive interest rates. VA loans are also more flexible on credit and income than many other programs, and a VA loan can be assumed by a future buyer, which can be a selling point if rates rise.
You can also refinance with a VA loan. The VA Interest Rate Reduction Refinance Loan (IRRRL) is a streamlined way to lower the rate on an existing VA loan, often with minimal documentation. If you have equity, a VA cash-out refinance can let you tap it, and it can also be used to refinance a non-VA loan into a VA loan.
There is no VA loan limit for borrowers with full entitlement, so loan amounts of a million dollars or more are possible, depending on the lender, the property and your qualifications. Borrowers with reduced entitlement, such as those with an existing VA loan, may have limits tied to county loan limits. A VA funding fee typically applies, though it is waived for veterans receiving VA disability compensation and certain others, and it can be financed into the loan.
We work with multiple VA-approved lenders, and we’ll compare programs to find the best fit for your situation. Start with a conversation, and we’ll confirm your eligibility and your options.