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White living room in a modern home recently purchased with a conforming loan


Conforming loans, sometimes called Conventional Loans, are loans that either Fannie Mae (A.K.A. Federal National Mortgage Association) or Freddie Mac (A.K.A. Federal Home Loan Mortgage Corporation), which are the two largest mortgage companies in the U.S.A. 

These programs offer a broad array of down payment options from as little to 3% down and offer financing for second homes and investment properties in addition to owner occupied home loans.

Coforming Loan
Dining room in a luxury home recently purchased with a jumbo home loan


The definition of Jumbo Loan is one that exceeds Conforming Loan limits. A Jumbo Loan is one way to buy a luxury home or a high-valued home. Borrowers are required to have a low debt-to-income ratio and a high credit score.

Jumbo Home Loan
A couple boxing their items to bring to their newly purchased home with their first time home buyer loan

A first-time homebuyer is defined as someone who has not owned a home in the past three years. This definition applies to FHA, VA, USDA, and Conventional financing.

First Time Home Buyer
Couple looking at real estate to purchase with an FHA home loan


FHA programs allow for lower down payments when compared to standard conventional financing. FHA also allows an immediate family member to gift the buyer their down payment and closing cost funds. Arizona also offers grants to home buyers who want to utilize the FHA program.

FHA Home Loan
Veteran with his two kids after finding out they're moving into a new home made possible with a VA home loan


VA loans are ideal for Veteran home buyers since they do not require down payments for standard loan amounts, but you must be a qualifying Veteran of the United States Military.

VA Home Loan
Small farm house purchased with a USDA home loan


USDA loans allow buyers with a lower-than-average income to buy homes in qualified rural areas with no money down. USDA does require an upfront fee, which can be included in the loan amount.

USDA Home Loan
Mobile home recently purchased by a family with the assistance of a manufactured home loan


Financing can be challenging for any homeowner. This could be especially true when it comes to mobile homes and some manufactured homes. Manufacture home loans aren't as plentiful as standard home loans. These are government-backed loan programs can make it easier to qualify and keep costs low.

Manufactured Home Loan
Home Equity Loan
Woman researching home equity loan on her laptop to get prequalified


A home equity loan may also be referred to as a second mortgage, which allows you to borrow a lump sum against your current home equity for a fixed rate over a specified period. Many home equity loans are used to finance large expenditures, which could be used to do home repairs or pay college tuition. HELOCs work like credit cards, where you can continuously borrow up to an approved limit while paying off the balance.

Elderly couple looking to get a reverse mortgage loan to use the equity in their home to supplement their retirement income.


Designed to help homeowners 62-years and older, this loan allows you to use the equity in your home to supplement your retirement income. It is a fairly complex financial planning tool, so be sure to work with someone who thoroughly understands the product and can answer all your questions. LHM Financial can help.

Reverse Mortgage Loan
A couple relocating and re-establishing residency in another area outside a reasonable commuting distance from their current home. They were granted a relocating buyer loan.


The Relocation Mortgage Program

FHA & USDA will consider extending their eligibility guidelines if the borrower is relocating and re-establishing residency in another area outside a reasonable commuting distance from the current principal residence.LHM Financial considers a reasonable commuting distance to be 100 miles or more.

Relocating Buyer
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