Loans
More mortgage options than you think.
More mortgage options than you think.
More mortgage options than you think.
Understanding your options is a smart place to start. A Thompson Kane mortgage expert is the right person to finish the conversation.
Understanding your options is a smart place to start. A Thompson Kane mortgage expert is the right person to finish the conversation.
Understanding your options is a smart place to start. A Thompson Kane mortgage expert is the right person to finish the conversation.
You don't have to go it alone.
You don't have to go it alone.
Loan Programs at a Glance
How four popular options compare on the factors that matter most.
| Conventional 97 | FHA Loan | USDA Loan | VA Loan | |
|---|---|---|---|---|
| Minimum Down Payment | 3% | 3.5% | 0% | 0% |
| Minimum Credit Score | 620 | 580 (a 500 to 579 score requires 10% down) | Determined by lender | Determined by lender |
| Mortgage Insurance | PMI, removable at 20% equity | MIP, typically for the life of the loan | None required | None required |
| Income Limit | None | None | Yes (varies by area and household size) | None |
| Loan Limit, 2026 (most areas) | $832,750 | $541,287 | Varies by area | No limit with full entitlement |
| Who Qualifies | First-time buyer (or no ownership in past 3 years) | Anyone meeting credit and DTI requirements | Low to moderate income buyer in a USDA-eligible rural area | Active military, veterans, Guard and Reserve, qualifying surviving spouses |
Limits and eligibility shown reflect 2026 program guidelines for properties in most areas. High-cost counties have different loan limit values, and USDA loan limits depend on the property's location and the borrower's repayment ability. Talk with a Thompson Kane loan officer to confirm the specific numbers for your situation.
Loan Programs at a Glance
How four popular options compare on the factors that matter most.
| Conventional 97 | FHA Loan | USDA Loan | VA Loan | |
|---|---|---|---|---|
| Minimum Down Payment | 3% | 3.5% | 0% | 0% |
| Minimum Credit Score | 620 | 580 (a 500 to 579 score requires 10% down) | Determined by lender | Determined by lender |
| Mortgage Insurance | PMI, removable at 20% equity | MIP, typically for the life of the loan | None required | None required |
| Income Limit | None | None | Yes (varies by area and household size) | None |
| Loan Limit, 2026 (most areas) | $832,750 | $541,287 | Varies by area | No limit with full entitlement |
| Who Qualifies | First-time buyer (or no ownership in past 3 years) | Anyone meeting credit and DTI requirements | Low to moderate income buyer in a USDA-eligible rural area | Active military, veterans, Guard and Reserve, qualifying surviving spouses |
Limits and eligibility shown reflect 2026 program guidelines for properties in most areas. High-cost counties have different loan limit values, and USDA loan limits depend on the property's location and the borrower's repayment ability. Talk with a Thompson Kane loan officer to confirm the specific numbers for your situation.
FEATURED PROGRAMS
Your down payment may be smaller than you think.
Most buyers assume they need 20% saved before they can even start. The reality: there are hundreds of assistance programs across the country, including grants, second mortgages, and employer benefits, that most buyers never know to ask about.
Your down payment may be smaller than you think.
Most buyers assume they need 20% saved before they can even start. The reality: there are hundreds of assistance programs across the country, including grants, second mortgages, and employer benefits, that most buyers never know to ask about.
CONVENTIONAL LOAN PROGRAM
Fannie Mae HomeReady
®
As little as 3% down, with up to $2,500 in help.
HomeReady® is Fannie Mae's flagship affordable mortgage program, built for creditworthy buyers who don't have a large down payment saved. Qualifying buyers at certain income levels may receive a $2,500 credit applied directly toward their down payment or closing costs.
DOWN PAYMENT & CLOSING COST ASSISTANCE
Community Seconds
®
Stack a second source of funding on top of your mortgage.
Community Seconds® pairs a conventional first mortgage with assistance from an approved source: state housing agencies, nonprofits, employers, even local governments. Combined financing can reach up to 105% of the home's value.
HOUSING FINANCE AGENCY PROGRAMS
State & Local HFA Programs
Your state may already have money waiting for you.
Every state has a Housing Finance Agency, and most run active programs offering grants, forgivable loans, or reduced-rate mortgages for qualifying buyers. Eligibility rules vary; income, purchase price, and location all factor in.
GRANTS & SPECIAL PROGRAMS
Grants & Employer Assistance
You might already qualify and not know it.
Grants from nonprofits, assistance tied to specific professions, and employer-sponsored homebuyer benefits are all eligible sources under Fannie Mae guidelines. These programs rarely advertise themselves. A loan officer who knows where to look can find options most buyers never discover.
HOUSING FINANCE AGENCY PROGRAMS
State & Local HFA Programs
Your state may already have money waiting for you.
Every state has a Housing Finance Agency, and most run active programs offering grants, forgivable loans, or reduced-rate mortgages for qualifying buyers. Eligibility rules vary; income, purchase price, and location all factor in.
GRANTS & SPECIAL PROGRAMS
Grants & Employer Assistance
You might already qualify and not know it.
Grants from nonprofits, assistance tied to specific professions, and employer-sponsored homebuyer benefits are all eligible sources under Fannie Mae guidelines. These programs rarely advertise themselves. A loan officer who knows where to look can find options most buyers never discover.
Down Payment Assistance
Your down payment may be smaller than you think.
Most buyers assume they need 20% saved before they can even start. The reality: there are hundreds of assistance programs across the country, including grants, second mortgages, and employer benefits, that most buyers never know to ask about.
CONVENTIONAL LOAN PROGRAM
Fannie Mae HomeReady
®
As little as 3% down, with up to $2,500 in help.
HomeReady® is Fannie Mae's flagship affordable mortgage program, built for creditworthy buyers who don't have a large down payment saved. Qualifying first-time buyers at certain income levels may receive a $2,500 credit applied directly toward their down payment or closing costs.
Learn more about HomeReady
®
→
DOWN PAYMENT & CLOSING COST ASSISTANCE
Community Seconds
®
Stack a second source of funding on top of your mortgage.
Community Seconds® pairs a conventional first mortgage with assistance from an approved source: state housing agencies, nonprofits, employers, even local governments. Combined financing can reach up to 105% of the home's value.
HOUSING FINANCE AGENCY PROGRAMS
State & Local HFA Programs
Your state may already have money waiting for you.
Every state has a Housing Finance Agency, and most run active programs offering grants, forgivable loans, or reduced-rate mortgages for qualifying buyers. Eligibility rules vary. Income, purchase price, and location all factor in.
GRANTS & SPECIAL PROGRAMS
Grants & Employer Assistance
You might already qualify and not know it.
Grants from nonprofits, assistance tied to specific professions, and employer-sponsored homebuyer benefits are all eligible sources under Fannie Mae guidelines. These programs rarely advertise themselves. A loan officer who knows where to look can find options most buyers never discover.
Ready to start your journey to home ownership?
©2026 Thompson Kane & Co., Inc. | NMLS# 898428
8040 Excelsior Dr, Suite 100, Madison, WI 53717
Ready to start your journey to home ownership?
©2026 Thompson Kane & Co., Inc
NMLS# 898428
8040 Excelsior Dr, Suite 100
Madison, WI 53717
Ready to start your journey to home ownership?
©2026 Thompson Kane & Co., Inc. • NMLS# 898428
8040 EXCELSIOR DR, Suite 100, Madison, WI 53717