1️⃣⚙️ Loan Types Explained in 60 Seconds — Your Fast Mortgage Guide ⏱️

2️⃣💡 Mortgage Loan Types Made Simple — What You Need to Know in 1 Minute 📉

⚙️ Loan Types Explained in 60 Seconds: Your Quick Guide to Smarter Borrowing

When you’re searching for a mortgage, it can feel like lenders are speaking a different language. Conventional, FHA, VA, Jumbo, Non-QM, DSCR — the list is long, and each comes with its own rules.
But here’s the good news: you can understand the major loan types in under 60 seconds.

Whether you're a first-time homebuyer, investor, or business owner, choosing the right loan is the key to lowering your payment, increasing your buying power, and qualifying without unnecessary stress. As a mortgage broker with access to hundreds of lenders, my job is to match you with the perfect fit — without the guesswork.

Let’s break down the most common loan types quickly and clearly.

🏡 1. Conventional Loans

Great for buyers with solid credit and stable income.
Best for: Primary homes, second homes, investment properties.
Why choose it: Lower rates, flexible terms, and no upfront mortgage insurance.

🧱 2. FHA Loans

Designed for buyers with limited credit or smaller down payments.
Best for: First-time homebuyers.
Why choose it: 3.5% down and flexible credit guidelines.

🇺🇸 3. VA Loans

Exclusive to qualifying veterans and active-duty military.
Best for: VA-eligible borrowers purchasing or refinancing a home.
Why choose it: 0% down, no PMI, and competitive interest rates.

💰 4. Jumbo Loans

For high-price homes that exceed conforming loan limits.
Best for: Luxury homebuyers and high-income earners.
Why choose it: Larger loan amounts and competitive pricing with strong qualifications.

📘 5. Non-QM Loans

Perfect for self-employed borrowers who don’t fit standard guidelines.
Includes: Bank statement loans, asset depletion loans, P&L-only loans.
Why choose it: Flexible documentation and income verification options.

📦 6. DSCR Loans (For Investors)

A fast-growing loan type for rental properties.
Why choose it: Qualify based on rental income — not your personal income.

🏗️ 7. Hard Money Loans

Specialty loans offering speed and flexibility for flips or bridge needs.
Why choose it: Fast closings, property-based underwriting.

🔍 Final Takeaway

Each loan type serves a different financial profile — and the best choice depends on your goals, credit, income, and long-term plans.
Medallion Funds helps you compare options from 600+ lenders so you get the right loan without stress or confusion.

Want the 60-second breakdown? Watch the YouTube video linked below.
Need a personalized loan match? Reach out anytime.

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© 2023-2024 Bill Rapp, Medallion Funds LLC, Director of Capital Advisory