What are the differences in the types of loans?

Loan Products

HomeAmerican offers over 100 different loan products. The following is a quick overview of the different categories of products we offer. Please speak with one of our qualified Loan Officers to determine which program best suits your needs.

Conventional Financing

Standard loan programs designed to meet the needs of a variety of different borrowers.


Programs Benefits
Fixed Rate Mortgage
  • Monthly payments are fixed over the life of the loan
  • Interest rate does not change
  • Stable Loan
  • Best value if you are thinking long term homeownership
  • Available in 15-or 30-year terms
Adjustable Rate Mortgages
  • Lower initial monthly payment
  • Lower payment over a shorter period of time
  • May qualify for a higher loan amount
  • Best value if you are thinking short term homeownership
Government Financing

The U.S. Department of Housing and Urban Development through the Federal Housing Administration (FHA) and the U.S. Department of Veterans Affairs (VA) offer government-insured loans. Ideal for the first-time home buyer, these loans have features that make purchasing a new home easier.


Programs Benefits
FHA Insured Mortgage
  • Low down payment
  • No maximum income or earning limitations
  • Fixed rate and ARM loans available
  • Able to finance Mortgage Insurance Premium
VA Guaranteed Mortgage for Qualified Veterans
  • Zero down payment
  • Flexible qualifying guidelines
  • Do not need to pay Private Mortgage Insurance
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