Explore Loan Programs
The Right Mortgage Starts With the Right Fit.
Compare the most common financing paths in plain language, then take the next step with clarity.
Your options
Five paths. One goal: a loan that fits your life.
The lowest down payment is not always the best overall fit. Credit, income, property, timeline, and long-term plans all matter.
Options may start at 3% down
Conventional
May fit: Buyers with established credit and flexible property goals
A versatile choice for primary homes, second homes, and investment properties. Mortgage insurance may be removable as equity grows.
Typically 3.5% down for qualified buyers
FHA
May fit: Buyers who need more flexible credit or debt guidelines
Government-backed financing with approachable qualification guidelines. Mortgage insurance generally remains for the life of many FHA loans.
0% down may be available
VA
May fit: Eligible veterans, service members, and surviving spouses
A powerful earned benefit with no monthly mortgage insurance. Eligibility, entitlement, property standards, and a possible funding fee apply.
0% down may be available
USDA
May fit: Eligible buyers purchasing in qualifying rural or suburban areas
Designed for eligible households and locations. Income limits, property location rules, and program fees apply.
Varies by profile and loan size
Jumbo
May fit: Buyers financing above conforming loan limits
Financing for higher-priced homes, often with stronger credit, reserve, income-documentation, and down-payment expectations.
Quick comparison
See the differences at a glance.
These are general program characteristics, not qualification guarantees or personalized terms.
| Program | Down payment | Mortgage insurance | Property rules | Often considered for |
|---|---|---|---|---|
| Conventional | 3%+ | Usually below 20% down | Broad | Credit strength and flexibility |
| FHA | 3.5% | Required | Broad, with standards | Flexible qualification |
| VA | 0% possible | No monthly MI | Primary residence | Eligible military borrowers |
| USDA | 0% possible | Program guarantee fee | Eligible locations | Income-eligible rural buyers |
| Jumbo | Varies | Program dependent | Broad | Higher loan amounts |
Your roadmap
Know exactly what comes next.
Share Your Goals
Tell us about your timeline, budget, property plans, and what matters most to you.
Compare the Full Picture
Review payment, upfront costs, eligibility, and long-term tradeoffs side by side.
Confirm Your Fit
Complete an application so income, assets, credit, and property details can be reviewed.
Move Forward Clearly
Choose your path with a clear explanation of the documents and milestones ahead.
Program details are personal.
Down payments, credit guidelines, mortgage insurance, loan limits, rates, and eligibility vary. Final approval depends on a complete application, verified documentation, underwriting, and property eligibility.
Let's talk
Ready to find your best-fit loan program?
Start your secure application and a Royal mortgage professional will help you compare the programs that may fit your goals.
Phone: 1 (346) 702-9872
San Antonio, Texas
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