Home Purchase
A purchase mortgage helps finance a property you are buying. The right structure depends on occupancy, borrower qualifications, the property, available funds, and long-term plans.
Learn about this optionLoan Options
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A plain-language overview of common mortgage categories. These descriptions are educational and are not an offer of credit or a determination of eligibility.
Conventional Loans
Conventional loans follow lender and secondary-market standards rather than a government-insured program. Available structures, mortgage insurance, down payment expectations, and qualification requirements vary.
Learn about this optionFHA Loans
FHA loans are insured by the Federal Housing Administration and have program-specific mortgage insurance and property requirements. Bloomfield Lending is a private company, not a government agency, and is not acting on behalf of or at the direction of FHA.
Learn about this optionVA Loans
VA loans are guaranteed by the U.S. Department of Veterans Affairs for eligible borrowers. Bloomfield Lending is a private company, not a government agency, and is not affiliated with or endorsed by VA. Eligibility and entitlement are determined under the program.
Learn about this optionRate & Term Refinance
A rate-and-term refinance replaces a current mortgage, generally to change the rate, repayment period, or loan structure without primarily taking cash out. Value depends on costs, timing, and the full new obligation.
Learn about this optionCash-Out Refinance
A cash-out refinance replaces an existing mortgage with a larger loan. Proceeds may remain after existing liens and transaction costs are paid, subject to property value, equity, and underwriting.
Learn about this optionHome Equity Line of Credit
A HELOC generally provides a revolving line secured by the home, often with separate draw and repayment periods. Rate structures, access methods, fees, and required payments vary by lender.
Learn about this optionHome Equity Loan
A home equity loan is generally a second mortgage for a set amount with a defined repayment schedule. Terms, rates, costs, and combined loan-to-value limits vary by lender and borrower.
Learn about this optionDSCR Loans
Debt-service coverage ratio programs generally compare qualifying rental income with the property’s housing debt. Calculation methods, documentation, property eligibility, and borrower requirements vary by lender and program.
Learn about this optionInvestment Property Loans
Investment-property financing reflects the property’s intended rental use and may involve different down payment, reserve, pricing, documentation, and underwriting considerations from a primary residence.
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