Mortgage Programs

Learn about our residential home loan programs.


Conventional loans are mortgage loans offered by non-government sponsored lenders. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate.

While many think that a 20% down payment is required for all conventional loans, many lenders now offer low down payment options.


FHA loans are an attractive option, especially for first-time homeowners because it is insured by the Federal Housing Administration (FHA). Primarily, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.Typically the borrower can be approved with 3.5% Down and credit scores as low as 580.

FHA 203k

The FHA 203k is a renovation loan program that provides funds for both the purchase and renovation of a home. There are two types of an FHA 203k loan. The first is a full 203k, which is given for properties that need structural repairs such as a new roof or a room addition. The second is the streamlined 203k, which is given for non-structural repairs such as painting and new appliances. The minimum Loan Amount is $5000.


Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits. Rates on jumbo loans are typically higher than conforming loans. Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes. Typically Jumbo Loans require a higher down payment than traditional loans.


A VA Loan is Designed to offer long-term financing to veterans. VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans.  If you are a past Veteran and are unsure about your eligibility please reach out to RP Mortgage, ltd for a free analysis.

Apply for a VA Loan with RP Mortgage, ltd.

Reverse Mortgage

This useful loan option is designed to help homeowners and homebuyers age 62 and older convert some of their home equity into cash-so they can live more comfortably, with greater financial independence.  Built into this financial tool are several important features and safeguards, for your security and peace of mind, including:

  • No Monthly Mortgage Payments
  • Tax-Free* loan proceeds you can use however you choose
    *Not tax advise.  Consult a tax professional
  • Asset Protection
  • No Prepayment Penalty

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