Mortgage programs: find the right loan for your situation
Every borrower has a different financial story. Some have W-2 income; others are self-employed, investing in rentals, buying in a high-cost California market, or using savings instead of a paycheck to qualify. As an independent mortgage broker, Wonder Rates compares programs from multiple wholesale lenders to match your situation, rather than one product for everyone.
Last updated: October 2026 · By Duc Pham, Mortgage Broker, NMLS# 844897
Browse mortgage programs
One mortgage doesn’t fit every borrower. Each program below has its own guide, with requirements, who it fits, pros and cons, a calculator and answers to common questions.
Buying a home
The everyday purchase loans most buyers compare first.
Conventional Loans
Flexible financing for borrowers with strong credit and stable income.
- Credit
- Moderate
- Down
- Low options
- Use
- Primary home: yesSecond home: yesInvestment: yes
FHA Loans
Low down payment options for buyers who want more flexible credit requirements.
- Credit
- More flexible
- Down
- Low options
- Use
- Primary home: yesSecond home: noInvestment: no
VA Loans
Financing benefits for eligible veterans and military families.
- Credit
- More flexible
- Down
- Set by entitlement
- Use
- Primary home: yesSecond home: noInvestment: no
Jumbo Loans
Financing for homes above the conforming loan limit.
- Credit
- Stronger profile
- Down
- Larger
- Use
- Primary home: yesSecond home: yesInvestment: yes
Self-employed & investors
Qualify on bank deposits, rental income or assets instead of a W-2 file.
Bank Statement Loans
Qualify using bank deposits instead of tax returns.
- Credit
- Moderate
- Down
- Moderate to larger
- Use
- Primary home: yesSecond home: yesInvestment: yes
DSCR Loans
Investment property financing based on rental income.
- Credit
- Moderate
- Down
- Larger
- Use
- Primary home: noSecond home: noInvestment: yes
Asset Depletion Loans
Use savings and investments as qualifying income.
- Credit
- Moderate
- Down
- Larger
- Use
- Primary home: yesSecond home: yesInvestment: no
Non-QM Loans
Flexible underwriting for unique financial situations.
- Credit
- Moderate
- Down
- Varies by program
- Use
- Primary home: yesSecond home: yesInvestment: yes
Specialty loan programs
Built for a specific kind of buyer, property or payment plan.
Foreign National Loans
Mortgage options for non-U.S. residents buying property in America.
- Credit
- Not score-based
- Down
- Larger
- Use
- Primary home: noSecond home: yesInvestment: yes
Construction Loans
Finance the construction of a new custom home.
- Credit
- Stronger profile
- Down
- Larger
- Use
- Primary home: yesSecond home: noInvestment: no
Renovation Loans
Buy and renovate with one mortgage.
- Credit
- Moderate
- Down
- Varies by program
- Use
- Primary home: yesSecond home: yesInvestment: yes
Interest-Only Loans
Lower required payments during the interest-only period.
- Credit
- Stronger profile
- Down
- Larger
- Use
- Primary home: yesSecond home: yesInvestment: yes
Adjustable-Rate Mortgages (ARM)
An initial fixed period, then adjustments within the loan’s rate caps.
- Credit
- Moderate
- Down
- Varies by program
- Use
- Primary home: yesSecond home: yesInvestment: yes
Using your home equity
Turn equity you already have into usable funds.
HELOC & Home Equity Loans
Access your home’s equity through a flexible credit line or a lump sum.
- Credit
- Moderate
- Down
- Uses your equity
- Use
- Primary home: yesSecond home: noInvestment: no
Reverse Mortgage (HECM)
Access part of your home’s equity while you keep living in the home.
- Credit
- Not score-based
- Down
- Uses your equity
- Use
- Primary home: yesSecond home: noInvestment: no
Compare mortgage loan programs
A quick visual read on each program. Open any program for the full requirements.
Loan guidelines vary by lender, program and individual borrower profile. The graphics above summarize general market guidelines for educational purposes and are not a commitment to lend.
How to choose the right mortgage program
A few factors typically shape which program may fit you best:
- Income type (W-2, self-employed, retirement assets or foreign income)
- Down payment available
- Credit score
- Property type
- Occupancy plans (primary residence, second home or investment)
- Long-term financial goals
Get matched quickly
Answer a few questions and we’ll suggest programs that may fit your financial situation. A licensed loan officer then compares them across our wholesale lenders.
Run your numbers before you talk to anyone
Pick a calculator and try your own scenario right here. Every one is free and needs no sign-up.
For illustration purposes only. Not a rate quote, loan offer, or commitment to lend. Contact us for a personalized quote.
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Get matched to a loan program
Answer a few questions about your goal, credit and income and see which programs may fit. No credit impact.
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Mortgage programs for California homebuyers
California is consistently one of the most expensive housing markets in the country. In the Bay Area, San Jose and Santa Clara County, Orange County and Los Angeles, even a modest single-family home can cost more than the conforming loan limit, so buyers here weigh conforming, high-balance and jumbo loans far more often than buyers in lower-cost states. For 2026 the conforming limit for a one-unit home reaches $1,249,125 in high-cost counties such as Los Angeles, San Francisco, Orange and Santa Clara.
California’s large community of small-business owners, real estate investors and retirees also makes bank statement, DSCR and asset depletion loans common here. First-time buyers in California may also qualify for down payment assistance or other local programs; ask your loan officer which ones apply to you.
loan_program_california_image · 1200×800Wonder Rates · San Jose, CA Headquarters
621 Tully Rd #125
San Jose, CA 95111
NMLS ID: 1518655
Wonder Rates · Westminster, CA Office
9191 Bolsa Ave #213
Westminster, CA 92683
NMLS Branch ID: 1904427
Serving the Bay Area, San Jose, Orange County, Los Angeles and the rest of California, in English and Vietnamese.
408-600-1900Not sure which loan fits? Get matched
Answer a few quick questions and a licensed loan officer compares programs across our wholesale lenders for your situation.
Prefer to talk? Call 408-600-1900 (English & Tiếng Việt)
Loan program questions, answered
Which mortgage loan is best?
There is no single best option. The right program depends on your credit profile, income type, property type and financial goals.
What's the difference between conventional and FHA?
Conventional loans generally call for stronger credit, while FHA loans tend to offer more flexibility and a lower minimum down payment.
Can self-employed borrowers qualify?
Yes. Bank statement loans, asset depletion loans and other Non-QM options are built for borrowers whose income may not fit traditional W-2 documentation.
Which mortgage programs have low down payment options?
Conventional, FHA and VA programs offer low down payment options for eligible borrowers. Requirements vary by program, lender and your financial profile, and a loan officer can compare them for you.
Can I compare multiple mortgage programs?
Yes. As a mortgage broker, Wonder Rates can compare programs across multiple wholesale lenders to help identify options that may align with your financial profile.
Does Wonder Rates offer these loan programs in California?
Yes. California is one of the 17 states where Wonder Rates (NMLS #1518655) is licensed, and our California office is in Westminster, in Orange County. We work with buyers and homeowners across the state, including the Bay Area, San Jose, Orange County and Los Angeles.
Can I talk to a loan officer in Vietnamese?
Yes. Our team works with borrowers in both English and Vietnamese (tiếng Việt), so you can compare loan programs and review documents in the language you are most comfortable with.
Duc Pham, Mortgage Broker · NMLS# 844897 · 408-600-1900 · dp@wonderrates.com
Wonder Rates, Inc. · NMLS#1518655 · DRE#02047445 · DFPI#60DBO-59134
Equal Housing Opportunity. Equal Housing Lender. Licensed in Alabama, Arizona, California, Colorado, Florida, Georgia, Louisiana, Michigan, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Virginia, and Washington.
This page is for educational purposes only and is not a commitment to lend or an offer to lend. Loan program availability, guidelines and qualification requirements vary by lender and are subject to change without notice. Loan approval is subject to creditworthiness, income and asset verification, property eligibility and current underwriting guidelines. Always review your official Loan Estimate before making a financing decision. This is not tax or legal advice; consult a tax professional about your situation.