Mortgage Programs for Homebuyers – Workshop Replay

Mortgage Programs for Homebuyers

Understanding your options and choosing the right loan for your goals

When people hear the term mortgage programs, they often assume there’s a single “best” loan—or that qualifying automatically means one fixed option.

In reality, mortgage programs are simply different rule books. Each program has its own guidelines around down payment, credit flexibility, mortgage insurance, and how competitive your offer looks to a seller.

In this workshop replay from my Home Buyer Workshop Series, I walk through the most common mortgage programs available to homebuyers—especially first-time buyers—and explain how loan choice can be used strategically to create affordability and strengthen your offer.

Watch the Workshop Replay

This workshop is ideal if you:

• Are buying your first home
• Have been pre-approved but don’t understand your loan options
• Are trying to balance payment comfort with offer strength
• Want to know what questions to ask before making an offer
• Have heard conflicting advice about loan programs

There Is No “Best” Mortgage Program

One of the biggest takeaways from this class is this:

There is no single best loan—only the best loan for you, your situation, and your goals.

Mortgage programs differ in:

• Minimum down payment
• Credit score flexibility
• Mortgage insurance requirements
• How competitive the offer appears to a seller
• Monthly payment structure

Choosing the right mortgage program is about aligning the loan with your short-term comfort and long-term plans, not just chasing the lowest rate or lowest down payment.

Common Mortgage Programs Explained

In the workshop, we review several of the most common options homebuyers use, including:

Conventional Loans

• Often available with as little as 3% down
• Mortgage insurance is typically cancellable
• Strong option for buyers with solid credit

FHA Loans

• Lower minimum credit score requirements
• 3.5% down minimum
• Mortgage insurance is required for the life of the loan (in most cases)

VA Loans

• Available to eligible veterans and service members
• No down payment required
• No monthly mortgage insurance

USDA Loans

• Designed for eligible rural and suburban areas
• No down payment required
• Income and location limits apply

Each of these programs serves a different purpose—and none are one-size-fits-all. There are also down payment assistance and specialty programs, such as doctors loans too!

Loan Terms Matter Too (Not Just the Program)

Mortgage programs can also be paired with different loan terms, such as:

• 30-year fixed (most popular, predictable payments)
• 15-year fixed (higher payment, lower interest cost over time)
• Adjustable-rate mortgages (ARMs)

While ARMs can sometimes offer lower initial rates, they also introduce more complexity and risk. For many first-time homebuyers, a fully amortized 30-year fixed loan provides stability and flexibility—especially in the early years of homeownership.

Creating Affordability Isn’t Just About Rate

This workshop also explains how affordability can be created through:

• Choosing the right loan program
• Understanding mortgage insurance options
• Evaluating different down payment scenarios
• Comparing payment comfort vs. long-term cost
• Strategies with using contributions from the seller

Sometimes the goal isn’t the lowest payment—it’s the payment that allows you to buy the right home without stretching too far.

Why a Discovery Call Matters

Before choosing a mortgage program, I strongly recommend a discovery call with your lender.

This conversation helps uncover:

• Your short- and long-term goals
• How long you plan to stay in the home
• Your comfort level with payments
• Whether flexibility or offer strength matters more

A good lender should help you compare options—not push a single solution.

This Workshop Is Education-First

This class is part of my ongoing commitment to education without pressure.

You don’t need to memorize loan programs or become a mortgage expert. The goal is for you to walk away knowing:

• You likely have more options than you think
• Loan choice impacts both payment and offer strength
• Asking the right questions matters just as much as the numbers

Where This Fits in the Home Buyer Workshop Series

This workshop builds on earlier classes covering:

• Getting started with homeownership
• Credit and buying a home
• How much money you need to buy a home
• Mortgage qualifying: income, job, and debts

If you haven’t watched those yet, you can find them all here:

👉 Homebuyer Workshop Resource Page

👉 Sign up for future “live” Workshops

If you have questions about which mortgage program might work best for you—or want to talk through scenarios before making an offer—I’m always happy to help.