LOAN PROGRAMS
Mortgage Options Built Around Different Borrower Needs
NCMC offers multiple mortgage programs for purchase and refinance. The right program depends on your financial profile, property type, and goals. Use this page as an educational overview — not as a guarantee of eligibility.
Conventional Loans
Conventional loans are not backed by a government agency. They typically require stronger credit and a larger down payment than government-backed programs, but may offer competitive terms for qualified borrowers. Conventional loans can be used for primary residences, second homes, and investment properties.
- —Available in fixed and adjustable-rate options
- —Down payment requirements vary by loan type
- —Private mortgage insurance (PMI) may apply with less than 20% down
- —Conforming loan limits apply; jumbo options available above limits
FHA Loans
FHA loans are insured by the Federal Housing Administration. They are designed to help eligible borrowers who may not qualify for conventional financing. FHA loans have specific requirements for property condition, loan limits, and mortgage insurance.
- —Lower minimum down payment requirements for eligible borrowers
- —More flexible credit qualification guidelines
- —Mortgage insurance premium (MIP) required
- —FHA loan limits vary by county
VA Loans
VA loans are guaranteed by the U.S. Department of Veterans Affairs and are available to eligible veterans, active-duty service members, and qualifying surviving spouses. VA loans offer specific benefits for those who qualify.
- —No down payment required for eligible borrowers
- —No private mortgage insurance requirement
- —VA funding fee may apply (exemptions available)
- —Certificate of Eligibility (COE) required
Jumbo Loans
Jumbo loans are used for loan amounts that exceed conforming loan limits set by the Federal Housing Finance Agency (FHFA). These loans are not eligible for purchase by Fannie Mae or Freddie Mac and typically have stricter qualification requirements.
- —Loan amounts above conforming limits
- —Stronger credit and income requirements typically apply
- —Larger down payment often required
- —Available for primary residences and select other property types
Purchase Loans
Purchase loans are used to finance the acquisition of a home. NCMC works with buyers to identify the appropriate loan program based on their financial profile, property type, and purchase goals.
- —Prequalification available before home search
- —Multiple program options for different buyer profiles
- —Guidance through documentation and application process
- —Coordination with real estate professionals as needed
Refinance Loans
Refinance loans replace an existing mortgage with a new loan. NCMC helps homeowners evaluate refinance options based on their current loan terms, financial goals, and available programs.
- —Rate-and-term refinance options
- —Cash-out refinance for eligible borrowers
- —Streamline refinance programs where applicable
- —Review of closing costs and loan terms
This page is for informational and educational purposes only. Program availability, requirements, and loan limits are subject to change. Not all borrowers will qualify for all programs. This is not a commitment to lend. All loans subject to credit approval. NMLS #2179191. Equal Housing Opportunity.
Not Sure Which Program Fits?
Connect with NCMC Mortgage to discuss your situation and identify the programs that may be appropriate for your goals.