GOVERNMENT-BACKED MORTGAGES
GOVERNMENT-BACKED
FHA Loan
FHA Loan
FHA Loan
Backed by the government, built for accessibility.
Backed by the government, built for accessibility.
FHA loans are part of a broader category of mortgages known as government-backed loans. These accessible home financing programs are supported by U.S. government agencies that insure or guarantee the loan against losses. That insurance reduces the risk to lenders, which makes it possible to offer mortgages to a wider range of borrowers. FHA, VA, and USDA loans all fall under this umbrella, each serving a specific group of buyers.
The Federal Housing Administration insures FHA loans, making them the most widely used government-backed mortgage in the country. They're especially popular with first-time homebuyers and buyers whose credit profile or savings don't quite fit a conventional mortgage.
What makes FHA loans accessible:
Down payments as low as 3.5% with a credit score of 580 or higher (10% down for scores 500–579)
Flexible credit requirements: qualifying scores are lower than conventional loans typically require
Higher debt-to-income (DTI) allowances: lenders generally look for a DTI of 43% or less
Available for 1- to 4-unit properties, so you can occupy one unit and rent out the others
Offered as fixed-rate (15, 20, 25, or 30-year) or as a 5-year adjustable-rate
FHA loans require a mortgage insurance premium (MIP), which protects the lender. This is an additional cost built into your monthly payment, and it remains in place for a period that depends on your down payment.
A few constraints worth knowing: FHA loans are for primary residences only, not investment properties or second homes. Buyers also need at least two years of consistent employment and no foreclosure in the past three years.
If a conventional mortgage feels out of reach because of a smaller down payment, a credit history that's still building, or a debt load that doesn't quite line up with conventional standards, an FHA loan may be a strong fit. A Thompson Kane loan officer can walk through whether one would work for your situation.
FHA loans are part of a broader category of mortgages known as government-backed loans. These accessible home financing programs are supported by U.S. government agencies that insure or guarantee the loan against losses. That insurance reduces the risk to lenders, which makes it possible to offer mortgages to a wider range of borrowers. FHA, VA, and USDA loans all fall under this umbrella, each serving a specific group of buyers.
The Federal Housing Administration insures FHA loans, making them the most widely used government-backed mortgage in the country. They're especially popular with first-time homebuyers and buyers whose credit profile or savings don't quite fit a conventional mortgage.
What makes FHA loans accessible:
Down payments as low as 3.5% with a credit score of 580 or higher (10% down for scores 500–579)
Flexible credit requirements: qualifying scores are lower than conventional loans typically require
Higher debt-to-income (DTI) allowances: lenders generally look for a DTI of 43% or less
Available for 1- to 4-unit properties, so you can occupy one unit and rent out the others
Offered as fixed-rate (15, 20, 25, or 30-year) or as a 5-year adjustable-rate
FHA loans require a mortgage insurance premium (MIP), which protects the lender. This is an additional cost built into your monthly payment, and it remains in place for a period that depends on your down payment.
A few constraints worth knowing: FHA loans are for primary residences only, not investment properties or second homes. Buyers also need at least two years of consistent employment and no foreclosure in the past three years.
If a conventional mortgage feels out of reach because of a smaller down payment, a credit history that's still building, or a debt load that doesn't quite line up with conventional standards, an FHA loan may be a strong fit. A Thompson Kane loan officer can walk through whether one would work for your situation.
FHA loans are part of a broader category of mortgages known as government-backed loans. These accessible home financing programs are supported by U.S. government agencies that insure or guarantee the loan against losses. That insurance reduces the risk to lenders, which makes it possible to offer mortgages to a wider range of borrowers. FHA, VA, and USDA loans all fall under this umbrella, each serving a specific group of buyers.
The Federal Housing Administration insures FHA loans, making them the most widely used government-backed mortgage in the country. They're especially popular with first-time homebuyers and buyers whose credit profile or savings don't quite fit a conventional mortgage.
What makes FHA loans accessible:
Down payments as low as 3.5% with a credit score of 580 or higher (10% down for scores 500–579)
Flexible credit requirements: qualifying scores are lower than conventional loans typically require
Higher debt-to-income (DTI) allowances: lenders generally look for a DTI of 43% or less
Available for 1- to 4-unit properties, so you can occupy one unit and rent out the others
Offered as fixed-rate (15, 20, 25, or 30-year) or as a 5-year adjustable-rate
FHA loans require a mortgage insurance premium (MIP), which protects the lender. This is an additional cost built into your monthly payment, and it remains in place for a period that depends on your down payment.
A few constraints worth knowing: FHA loans are for primary residences only, not investment properties or second homes. Buyers also need at least two years of consistent employment and no foreclosure in the past three years.
If a conventional mortgage feels out of reach because of a smaller down payment, a credit history that's still building, or a debt load that doesn't quite line up with conventional standards, an FHA loan may be a strong fit. A Thompson Kane loan officer can walk through whether one would work for your situation.
USDA Loans
USDA Loans
USDA Loans
Zero down. Built for rural and small-town homeownership.
Zero down. Built for rural and small-town homeownership.
USDA loans are backed by the U.S. Department of Agriculture and are designed to expand homeownership in rural and small-town areas. Despite the name, you don't need to be a farmer. In fact, these loans serve a wide range of buyers in eligible locations, which include large portions of Thompson Kane's service areas.
The standout feature: USDA loans require no down payment. Combined with no private mortgage insurance and no USDA-imposed minimum credit score, that makes USDA one of the most accessible mortgage options available to buyers in qualifying areas.
What makes USDA loans distinctive:
0% down payment: finance up to 100% of the home's value
No PMI. USDA charges a modest upfront and annual guarantee fee instead, typically lower than comparable mortgage insurance
Available in 15, 20, 25, and 30-year fixed terms, plus a 5-year adjustable-rate option
Usable for existing homes, new construction, or homes needing renovation
The eligibility constraints worth knowing:
The property must be in an area defined as rural. Generally, this means a population of 35,000 or less. In the Midwest, that includes a substantial portion of the map. You can check any specific address through the USDA's eligibility tool.
Income limits apply: these loans are intended for low- to moderate-income buyers, and the caps vary by location and household size.
The home must be your primary residence.
Buyers need a debt-to-income ratio of 41% or lower.
For buyers in rural Wisconsin, Missouri, or other parts of our service area where USDA-eligible properties are common, a USDA loan can make homeownership possible without years of saving for a down payment. A Thompson Kane loan officer can confirm property eligibility and walk through the income limits for your area.
USDA loans are backed by the U.S. Department of Agriculture and are designed to expand homeownership in rural and small-town areas. Despite the name, you don't need to be a farmer. In fact, these loans serve a wide range of buyers in eligible locations, which include large portions of Thompson Kane's service areas.
The standout feature: USDA loans require no down payment. Combined with no private mortgage insurance and no USDA-imposed minimum credit score, that makes USDA one of the most accessible mortgage options available to buyers in qualifying areas.
What makes USDA loans distinctive:
0% down payment: finance up to 100% of the home's value
No PMI. USDA charges a modest upfront and annual guarantee fee instead, typically lower than comparable mortgage insurance
Available in 15, 20, 25, and 30-year fixed terms, plus a 5-year adjustable-rate option
Usable for existing homes, new construction, or homes needing renovation
The eligibility constraints worth knowing:
The property must be in an area defined as rural. Generally, this means a population of 35,000 or less. In the Midwest, that includes a substantial portion of the map. You can check any specific address through the USDA's eligibility tool.
Income limits apply: these loans are intended for low- to moderate-income buyers, and the caps vary by location and household size.
The home must be your primary residence.
Buyers need a debt-to-income ratio of 41% or lower.
For buyers in rural Wisconsin, Missouri, or other parts of our service area where USDA-eligible properties are common, a USDA loan can make homeownership possible without years of saving for a down payment. A Thompson Kane loan officer can confirm property eligibility and walk through the income limits for your area.
USDA loans are backed by the U.S. Department of Agriculture and are designed to expand homeownership in rural and small-town areas. Despite the name, you don't need to be a farmer. In fact, these loans serve a wide range of buyers in eligible locations, which include large portions of Thompson Kane's service areas.
The standout feature: USDA loans require no down payment. Combined with no private mortgage insurance and no USDA-imposed minimum credit score, that makes USDA one of the most accessible mortgage options available to buyers in qualifying areas.
What makes USDA loans distinctive:
0% down payment: finance up to 100% of the home's value
No PMI. USDA charges a modest upfront and annual guarantee fee instead, typically lower than comparable mortgage insurance
Available in 15, 20, 25, and 30-year fixed terms, plus a 5-year adjustable-rate option
Usable for existing homes, new construction, or homes needing renovation
The eligibility constraints worth knowing:
The property must be in an area defined as rural. Generally, this means a population of 35,000 or less. In the Midwest, that includes a substantial portion of the map. You can check any specific address through the USDA's eligibility tool.
Income limits apply: these loans are intended for low- to moderate-income buyers, and the caps vary by location and household size.
The home must be your primary residence.
Buyers need a debt-to-income ratio of 41% or lower.
For buyers in rural Wisconsin, Missouri, or other parts of our service area where USDA-eligible properties are common, a USDA loan can make homeownership possible without years of saving for a down payment. A Thompson Kane loan officer can confirm property eligibility and walk through the income limits for your area.
VA Loans
VA Loans
VA Loans
An earned benefit for those who served.
An earned benefit for those who served.
VA loans are backed by the U.S. Department of Veterans Affairs and are available to active-duty military, veterans, National Guard and Selected Reserve members, and qualifying surviving spouses. They're among the most generous loan programs available, a benefit earned through service.
The defining features: no down payment required, no monthly mortgage insurance, and no loan limits for borrowers with full entitlement (the cap was removed in 2020). For eligible buyers, that combination often makes a VA loan the strongest option on the table.
What sets VA loans apart:
0% down payment for most qualified buyers
No private mortgage insurance, eliminating a recurring monthly cost that other low-down-payment programs require
No loan limits for borrowers with full entitlement, allowing financing on a wide range of property values
A one-time funding fee applies for most borrowers, in place of monthly mortgage insurance; it's waived for veterans with service-connected disabilities and certain surviving spouses
No pre-payment penalties if you pay off the loan early or refinance
Available in 15, 20, 25, and 30-year fixed terms, with a 5-year adjustable-rate option
A few things specific to the VA loan process:
A VA-approved appraiser must inspect the property to confirm it meets the VA's Minimum Property Requirements. This is in addition to any standard home inspection, and required repairs can occasionally delay closing.
Eligibility depends on service history, including length of service, type of discharge, and whether service occurred during peacetime or wartime. The VA issues a Certificate of Eligibility (COE) confirming qualification.
VA loans are for primary residences only.
If you've served and haven't yet used your VA benefit, it's worth understanding what it can do. These loans are designed to recognize the cost of service and make homeownership more attainable. A Thompson Kane loan officer can help confirm your eligibility and walk through the process.
VA loans are backed by the U.S. Department of Veterans Affairs and are available to active-duty military, veterans, National Guard and Selected Reserve members, and qualifying surviving spouses. They're among the most generous loan programs available, a benefit earned through service.
The defining features: no down payment required, no monthly mortgage insurance, and no loan limits for borrowers with full entitlement (the cap was removed in 2020). For eligible buyers, that combination often makes a VA loan the strongest option on the table.
What sets VA loans apart:
0% down payment for most qualified buyers
No private mortgage insurance, eliminating a recurring monthly cost that other low-down-payment programs require
No loan limits for borrowers with full entitlement, allowing financing on a wide range of property values
A one-time funding fee applies for most borrowers, in place of monthly mortgage insurance; it's waived for veterans with service-connected disabilities and certain surviving spouses
No pre-payment penalties if you pay off the loan early or refinance
Available in 15, 20, 25, and 30-year fixed terms, with a 5-year adjustable-rate option
A few things specific to the VA loan process:
A VA-approved appraiser must inspect the property to confirm it meets the VA's Minimum Property Requirements. This is in addition to any standard home inspection, and required repairs can occasionally delay closing.
Eligibility depends on service history, including length of service, type of discharge, and whether service occurred during peacetime or wartime. The VA issues a Certificate of Eligibility (COE) confirming qualification.
VA loans are for primary residences only.
If you've served and haven't yet used your VA benefit, it's worth understanding what it can do. These loans are designed to recognize the cost of service and make homeownership more attainable. A Thompson Kane loan officer can help confirm your eligibility and walk through the process.
VA loans are backed by the U.S. Department of Veterans Affairs and are available to active-duty military, veterans, National Guard and Selected Reserve members, and qualifying surviving spouses. They're among the most generous loan programs available, a benefit earned through service.
The defining features: no down payment required, no monthly mortgage insurance, and no loan limits for borrowers with full entitlement (the cap was removed in 2020). For eligible buyers, that combination often makes a VA loan the strongest option on the table.
What sets VA loans apart:
0% down payment for most qualified buyers
No private mortgage insurance, eliminating a recurring monthly cost that other low-down-payment programs require
No loan limits for borrowers with full entitlement, allowing financing on a wide range of property values
A one-time funding fee applies for most borrowers, in place of monthly mortgage insurance; it's waived for veterans with service-connected disabilities and certain surviving spouses
No pre-payment penalties if you pay off the loan early or refinance
Available in 15, 20, 25, and 30-year fixed terms, with a 5-year adjustable-rate option
A few things specific to the VA loan process:
A VA-approved appraiser must inspect the property to confirm it meets the VA's Minimum Property Requirements. This is in addition to any standard home inspection, and required repairs can occasionally delay closing.
Eligibility depends on service history, including length of service, type of discharge, and whether service occurred during peacetime or wartime. The VA issues a Certificate of Eligibility (COE) confirming qualification.
VA loans are for primary residences only.
If you've served and haven't yet used your VA benefit, it's worth understanding what it can do. These loans are designed to recognize the cost of service and make homeownership more attainable. A Thompson Kane loan officer can help confirm your eligibility and walk through the process.
Loans
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