Loan Programs

Find the Right Loan

Every homebuyer's situation is different. Explore our library of mortgage programs to find the one that fits your goals, credit, and budget.

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Government Loan

FHA Loan

Best for: First-time buyers or those rebuilding credit who want a low down payment option

A government-backed mortgage insured by the Federal Housing Administration, designed to make homeownership more accessible with lower down payment and flexible credit requirements.

Down payment: 3.5% (with qualifying credit)

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Conventional Loan

Best for: Buyers with good credit and stable income who want flexible terms and the ability to remove mortgage insurance

Conventional loans are not government-backed and follow guidelines set by Fannie Mae and Freddie Mac. They are a common choice for buyers with stable income and established credit.

Down payment: 3% for first-time buyers; 5% for repeat buyers (standard programs)

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Government Loan

VA Loan

Best for: Veterans, active duty service members, and eligible surviving spouses

A powerful benefit for eligible veterans, active duty service members, and surviving spouses — offering zero down payment and no private mortgage insurance.

Down payment: 0% (no down payment required)

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Government Loan

USDA Loan

Best for: Buyers purchasing in eligible rural or suburban areas who meet income guidelines

A USDA Rural Development loan offers zero down payment for eligible properties in qualifying rural and suburban areas.

Down payment: 0% (no down payment required)

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Jumbo Loan

Best for: Buyers purchasing homes above conventional loan limits who have strong credit and financial reserves

Jumbo loans are mortgage loans that exceed conforming loan limits set by Fannie Mae and Freddie Mac. They are typically required when purchasing higher-priced homes.

Down payment: Typically 10-20% depending on loan size and lender

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First-Time Buyer

Utah Housing Programs

Best for: Utah residents who need down payment assistance or prefer a state-backed lending program

Utah Housing Corporation (UHC) offers state-backed mortgage programs and down payment assistance for eligible Utah homebuyers.

Down payment: Varies by program; DPA can cover some or all of the required down payment

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Down Payment Assistance

Best for: Buyers who qualify for a mortgage but lack sufficient savings for the down payment and closing costs

Down payment assistance (DPA) programs help cover the upfront costs of buying a home, reducing or eliminating the need for personal savings at closing.

Down payment: Some programs cover 100% of required down payment

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Specialty Program

Bank Statement Loan

Best for: Self-employed borrowers, business owners, and entrepreneurs whose tax returns understate their actual income

Bank statement loans allow self-employed borrowers to qualify based on bank deposit history rather than traditional tax returns — useful when standard income documentation understates actual cash flow.

Down payment: Typically 10-20%

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Investment Property

DSCR Loan

Best for: Real estate investors purchasing rental properties who want to qualify based on property income, not personal W-2s

DSCR loans allow real estate investors to qualify based on a rental property's projected income rather than personal tax returns or W-2 income.

Down payment: Typically 20-25%

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Specialty Program

ITIN Loan

Best for: Borrowers who file taxes using an ITIN and do not have a Social Security Number

ITIN loans provide a path to homeownership for borrowers who file U.S. taxes using an Individual Taxpayer Identification Number (ITIN) rather than a Social Security Number.

Down payment: Typically 10-20% depending on program

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Specialty Program

Foreign National Loan

Best for: Non-U.S. residents or citizens purchasing a home or investment property in the United States

Foreign national loans allow non-U.S. citizens without permanent residency to finance the purchase of U.S. real estate, typically with larger down payments and international documentation.

Down payment: Typically 30-40%

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Home Equity

HELOC / Home Equity Line of Credit

Best for: Homeowners with equity who want flexible access to funds without refinancing their first mortgage

A Home Equity Line of Credit (HELOC) lets homeowners borrow against the equity they've built in their home as a revolving line of credit, without refinancing their first mortgage.

Down payment: N/A — available to existing homeowners

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Refinance

Rate and Term Refinance

Best for: Homeowners who want to reduce their interest rate, shorten their loan term, or switch from an adjustable to fixed rate

A rate and term refinance replaces your existing mortgage with a new one, focused on changing the interest rate, loan term, or loan type — without significantly increasing the loan balance.

Down payment: N/A — refinancing existing mortgage

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Refinance

Cash-Out Refinance

Best for: Homeowners with significant equity who need funds for renovations, debt consolidation, investment, or other major expenses

A cash-out refinance replaces your existing mortgage with a larger loan, allowing you to receive the difference between the new and old balance as cash at closing.

Down payment: N/A — refinancing existing mortgage

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Refinance

FHA Streamline Refinance

Best for: Existing FHA borrowers who want to lower their interest rate quickly with minimal paperwork

The FHA Streamline Refinance is a simplified refinance option for existing FHA borrowers, designed to lower the interest rate or monthly payment with reduced documentation requirements.

Down payment: N/A — refinancing existing FHA mortgage

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Refinance

VA IRRRL (VA Streamline Refinance)

Best for: Veterans with an existing VA loan who want to refinance to a lower rate with minimal paperwork

The VA IRRRL (Interest Rate Reduction Refinance Loan) is a streamlined refinance option for eligible veterans with existing VA loans, designed to lower the rate or payment with minimal documentation.

Down payment: N/A — refinancing existing VA mortgage

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Construction

Construction Loan

Best for: Buyers building a custom home or purchasing a newly constructed property that requires construction financing

Construction loans provide short-term financing for building a new home, with funds disbursed in stages as construction progresses. Many programs convert to a permanent mortgage at completion.

Down payment: Typically 10-20% depending on program

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Investment Property

Investment Property Loan

Best for: Real estate investors purchasing non-owner-occupied rental properties

Investment property loans finance the purchase of non-owner-occupied rental properties, with options ranging from conventional programs to non-QM alternatives like DSCR loans.

Down payment: Typically 15-25% depending on loan type

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Work Hard Mortgage · NMLS #2396714 · Equal Housing Opportunity · Licensed in Utah. Program availability and guidelines may change. Final eligibility depends on credit, income, assets, property type, occupancy, and underwriting approval.