Not sure what type of home loan you may qualify for? This page is designed to help buyers in Modesto, Stanislaus County, San Joaquin County, and the Central Valley understand some of the most common home loan options available.
Whether you are a first-time buyer, self-employed, a 1099 worker, using an ITIN, buying with a low down payment, or looking for an investment property, there may be different financing options worth exploring.
Review the options below to learn the basics of each loan type. When you’re ready, I can help you create a simple game plan and connect you with a trusted lender to see what may fit your situation.
FHA Loans
A popular option for first-time buyers and buyers looking for a lower down payment. FHA loans may offer more flexible credit and qualification guidelines compared to some traditional loan options.
Conventional Loans
A common home loan option for buyers with stable income, stronger credit, and money saved for a down payment. Conventional loans may be a good fit for buyers who are ready for a more traditional financing option.
Down Payment Assistance
Some programs may help qualified buyers with upfront costs such as the down payment or closing costs. Availability depends on income, location, credit, and program guidelines.
Self-Employed & 1099 Buyers
Helpful for contractors, business owners, gig workers, and self-employed buyers who may not have traditional W-2 income. Some loan options may use bank statements or alternative documentation to help show income.
ITIN Buyer Options
For buyers without a Social Security number. Some lenders may offer home loan options using an ITIN, depending on income, credit, down payment, and lender guidelines.
VA Loans
A powerful option for eligible veterans, active-duty service members, and certain surviving spouses. VA loans may offer favorable financing benefits for those who qualify.
USDA Loans
A home loan option for eligible rural or suburban areas. Some USDA programs may offer low or no down payment options for qualified buyers, depending on property location and program requirements.
Investor / DSCR Loans
Designed for rental property investors. With DSCR loans, the lender may focus more on the property’s rental income potential instead of only looking at traditional personal income.
Not Sure Which Option Fits You?
Every buyer’s situation is different. The best first step is to review your goals, income, credit, savings, and timeline.
Call or text Edwin Alvarado at 209.241.9485 for a free 10-minute home buying game plan.
Disclaimer: I am a real estate agent, not a lender. Loan approval, rates, terms, credit score requirements, down payment, and program eligibility depend on lender review, income, credit, property type, property condition, and program availability.
