Conforming - Conforming conventional loans are the most common type of loans offered. They require full or low documentation from the borrower (W-2s, tax returns, bank statements, pay check stubs, etc.)

Non-Conforming - Non-conforming conventional loans are offered to borrowers who may not have all of the documentation available for a conforming loan. A few examples of non-conforming conventional loans are stated income loans, no income and no asset loans, and no documentation loans.

VA Loans - These loans are government insured and available to all veterans who qualify. Benefits of VA loans include rate discounts and certain non-allowable closing costs for the veteran.

Tex-Vet - Tex-Vet loans are available to all qualifying veterans that were enlisted in the state of Texas. A Tex-Vet loan is a regular conventional conforming loan but with a guaranteed rate discount for qualifying Texas Veterans.

One Time Close - With a one time closing the borrower obtains financing for the construction of their new home all at once. Financing is based on the appraised value and actual cost of the property. The advantage of a one time closing is that the borrower only has to qualify for the loan and pay closing costs once throughout the entire building process.

Two Time Close - With a two time closing the borrower first obtains a short-term loan to finance the construction of their home. The term is for 12 months and the borrower only makes interest payments during that time. After construction of the home is complete the borrower has their second closing for the permanent loan. The borrower has to be re qualified for the loan, interest rates are finalized, and the home is put into the borrower's name.

IRRL - An IRRL is a refinancing program established for qualifying veterans. IRRL stands for interest rate reduction loan. These types of loans can only be used for rate and term refinancing.

Rate and Term - Rate and term refinances allow borrowers to change the terms of their current home loan by switching to another loan product or another lender.

Cash Out - Cash out refinances allow borrowers to take out an additional loan against the existing equity in the home they currently own.