YOUR MORTGAGE.SIMPLIFIED.

What is a Conventional Loan?

A conventional loan is a mortgage that is not backed by a government agency. It follows guidelines set by Fannie Mae and Freddie Mac, the two largest buyers of mortgages in the U.S. Because there is no government backing, lenders typically require stronger credit and income documentation.

Who is it Best For?

Borrowers with good to excellent credit (typically 620 or higher), stable income, and at least 3% available for a down payment. Also great for buyers who want to avoid paying FHA mortgage insurance long-term.

Key Benefits

• Down payments as low as 3% for qualifying first-time buyers
• Private Mortgage Insurance (PMI) can be removed once you reach 20% equity
• Available for primary homes, second homes, and investment properties
• Competitive interest rates for borrowers with strong credit
• No upfront mortgage insurance premium unlike FHA

Things to Know

Conventional loans have loan limits set annually by the Federal Housing Finance Agency (FHFA). Loans above these limits are called Jumbo loans. In most of Florida the 2026 conforming loan limit is $832,750 for a single-family home, up from $806,500 in 2025.

What is an FHA Loan?

An FHA loan is a mortgage insured by the Federal Housing Administration, a division of HUD. Because the government insures the loan, lenders can offer more flexible qualification requirements.

Who is it Best For?

First-time homebuyers, borrowers with credit scores as low as 580, and those with limited savings for a down payment.

Key Benefits

• Down payment as low as 3.5% with a credit score of 580 or higher
• More flexible debt-to-income ratio guidelines
• Gift funds allowed for the down payment
• Competitive interest rates regardless of credit score
• Available for purchase and refinance transactions

Things to Know

FHA loans require both an upfront Mortgage Insurance Premium (MIP) and an annual MIP paid monthly. Unlike conventional PMI, FHA mortgage insurance typically stays for the life of the loan if you put less than 10% down. Many borrowers refinance into a conventional loan once they build enough equity.

What is a VA Loan?

A VA loan is a mortgage benefit provided by the U.S. Department of Veterans Affairs for eligible veterans, active-duty service members, National Guard members, reservists, and certain surviving spouses.

Who is Eligible?

• Veterans who served the required length of service
• Active-duty service members
• National Guard and Reserve members with qualifying service
• Surviving spouses of veterans who died in service or from a service-related disability

Key Benefits

• Zero down payment required
• No Private Mortgage Insurance ever
• Competitive interest rates, often lower than conventional loans
• Limited closing costs allowed to be charged to the veteran
• Can be used multiple times throughout your lifetime

Things to Know

VA loans include a one-time VA Funding Fee which can be rolled into the loan. Some veterans with service-connected disabilities may be exempt from this fee.

What is a Jumbo Loan?

A jumbo loan is a mortgage that exceeds the conforming loan limits set by the FHFA. In most of Florida, any loan above $832,750 as of 2026 is considered a jumbo loan (up from $806,500 in 2025). High-cost areas can go up to $1,249,125 before hitting jumbo territory. These loans cannot be purchased by Fannie Mae or Freddie Mac, so lenders apply stricter qualification standards.

Who is it Best For?

Buyers purchasing luxury homes, high-value properties, or properties in premium markets where prices exceed conforming limits.

Key Benefits

• Finance high-value properties above conforming loan limits
• Competitive rates for well-qualified borrowers
• Available for primary residences, second homes, and investment properties
• Access to premium properties without being limited by conventional caps

Things to Know

Jumbo loans typically require a higher credit score (usually 700 or above), a larger down payment (often 10 to 20%), more cash reserves, and thorough income documentation.

What is a DSCR Loan?

DSCR stands for Debt Service Coverage Ratio. A DSCR loan qualifies you based on the income a property generates, not your personal income or tax returns. The lender looks at whether the rental income is enough to cover the mortgage payment.

How is DSCR Calculated?

DSCR equals Monthly Rental Income divided by Monthly Mortgage Payment (principal, interest, taxes, insurance, and association dues). A DSCR of 1.0 means the property breaks even. A DSCR above 1.0 means positive cash flow.

Key Benefits

• No personal income documentation or tax returns required
• Qualify based on property cash flow alone
• Available for single-family, multi-family, condos, and short-term rentals
• Available in multiple states for investment properties
• LLC vesting allowed by many lenders

Things to Know

DSCR loans typically require a minimum credit score of 620 to 680, a down payment of 20 to 25%, and may carry slightly higher rates than conventional loans. For investment properties only, not primary residences.

What is a Construction Loan?

A construction loan is a short-term loan used to finance the building of a home or other real estate project. Funds are disbursed in stages called draws as construction milestones are completed. Once construction is complete, the loan typically converts to a permanent mortgage.

Types of Construction Loans

• Construction-to-Permanent: Converts automatically to a long-term mortgage when the home is complete. One closing, one set of costs.
• Construction Only: Covers just the build phase. A separate permanent mortgage is needed once complete.
• Renovation Loans: For major renovations or additions to existing properties.

Key Benefits

• Finance land purchase and construction in one loan
• Interest only during the construction phase
• Lock your permanent rate at the start in many programs
• Build exactly what you want

Things to Know

Construction loans require a licensed general contractor, detailed plans and cost estimates, and typically a higher credit score and down payment than standard purchase loans.

What is a Commercial Loan?

A commercial loan is a mortgage used to purchase, refinance, or build income-producing properties used for business purposes. Underwriting focuses on the property's income potential and the borrower's business financials.

Property Types We Finance

• Multi-family properties (5 or more units)
• Office buildings
• Retail and strip centers
• Mixed-use properties
• Warehouses and industrial
• Self-storage facilities
• Hotels and hospitality

Key Benefits

• Tailored financing structures to match the property and your goals
• Access to multiple commercial lenders through our broker network
• Available for purchase, refinance, and cash-out refinance

Things to Know

Commercial loans typically have shorter terms (5, 7, or 10 years) with amortization periods of 20 to 30 years. Underwriting focuses heavily on the property's Net Operating Income (NOI).

What is a Non-QM Bank Statement Loan?

A Non-QM (Non-Qualified Mortgage) Bank Statement loan is designed for self-employed borrowers who cannot document income using W-2s and tax returns. Instead, the lender uses your bank statements to calculate income.

How Does Income Get Calculated?

The lender reviews 12 or 24 months of your personal or business bank statements and averages your deposits to determine qualifying income. Business bank statements typically apply an expense factor to account for business costs.

Key Benefits

• No tax returns or W-2s required
• 12 or 24 month bank statement options
• Personal or business bank statements accepted
• Available for purchase and refinance
• Available for primary residences, second homes, and investment properties

Things to Know

Non-QM loans typically carry slightly higher rates than conventional loans. Down payment and credit score requirements vary by lender. J Rod has deep experience structuring bank statement loans to maximize your qualifying income.

What is a HELOC?

A HELOC, or Home Equity Line of Credit, is a revolving line of credit secured by the equity in your home. Think of it like a credit card, backed by your home but at a much lower interest rate. You draw from it as needed, pay it down, and draw again during the draw period.

How Does it Work?

A HELOC has two phases. The draw period (typically 5 to 10 years) during which you can borrow up to your credit limit and make interest-only payments. Then the repayment period (typically 10 to 20 years) when you repay the remaining balance in full principal and interest payments.

Key Benefits

• Only pay interest on what you actually use
• Rates are typically much lower than credit cards or personal loans
• Interest may be tax-deductible when used for home improvements
• Revolving access, pay it down and borrow again
• Can be used for virtually any purpose

NFTY Door HELOC Program

We offer a specialized HELOC product through NFTY Door with a streamlined digital application and fast approval process. Click below to explore this option.