Best Mortgage Programs for 2022

Upgrading, downsizing, second or investment home? These are the best mortgage programs for 2022!

Looking for a short list of mortgage programs available for any homebuyer? You've landed on the right guide!

This page is meant to be a fast guide to help you see various pros and cons of many of the more popular home loan programs available to you. Unlike my first-time homebuyer mortgage program guide, this guide is written for those that already own, downgrading, upgrading, relocating and everyone in-between.

What is the best mortgage program for me?

It is very important to understand that every borrower and home buying scenario is different and unique. In order to determine the best mortgage program specific to your homebuyer needs, talk to your preferred lender or give Scott Buehler a call!

As always, if you are overwhelmed, confused or want my assistance with your home loan, please feel free to reach out to discuss your options!


VA Home Loans

The U.S. Department of Veterans Affairs provides a home mortgage solution known as a VA loan with a zero down mortgage option. This mortgage solution is made available to Veterans, Service Members and select military spouses.

Finance up to 103% of the appraised value with a 15-year or 30-year mortgage with no maximum loan limit (subject to qualification). This program requires no private mortgage insurance and offers lower overall closing costs compared to other loan options.

USDA Home Loans

The U.S. Department of Agriculture, or USDA, guarantees loans up to 100% of an appraised home purchase price plus the 1% up-front guarantee fee. With an annual fee of 0.35%, this loan program is cheaper than FHA's Mortgage Insurance Premium.

This loan program has income limitations and the property must be located in a USDA-designated rural area to qualify. 

Talk to me about this loan option after your mortgage application to see if you qualify.

Conventional Home Loans

Conventional home loans continue to be the most popular home loan program for experienced and first-time homebuyers alike. Backed by Fannie Mae or Freddie Mac, this loan program offers the highest maximum loan limit with even higher loan limits in designated high-cost areas.

A low-percentage down payment is required with this loan program. Bringing more down payment often results in lower Private Mortgage Insurance premiums and lower interest rates when compared to the lowest down payment option.

How Much Down Payment is Required?

Due to changing mortgage guidelines, I ask that you give me a call to discuss your loan program options with specifics. With your call, I can send you home loan scenarios with various down payment options to help you choose the right home loan program that fits your mortgage goals.

Conventional Second Home Loans - 90% LTV

Considering purchasing a home in addition to your primary residence? The Second Home program from Fannie Mae may be an ideal solution.

  • Maximum 90% Loan-to-Value on single-family residences.
  • You must occupy the property for some portion of the year.
  • Only single-unit properties allowed.
  • Considerable distance* from your primary residence to your second home.
  • Must maintain exclusive control of the property, no property management services or timeshare arrangements.
  • Interest rates likely higher compared to Conventional Principal Residences.

If the above does not align with your goals for a property that won't be your primary residence, consider an Conventional Investment mortgage!

*TIP: Keep in mind that the home’s location may affect whether it’s classified as a second home. If you choose a place too close to your primary residence, it may be classified as an investment property, which could mean higher mortgage interest rates and stricter qualifying requirements.

Conventional Investment Home Loans

Want to purchase a property that you plan to turn over to a property management service or turn into a full-time rental? A Conventional Investment home loan may be your perfect fit. For most, an investment home loan means you do not plan to occupy the property or you or the property do not qualify for a Second Home mortgage.

  • Maximum 85% Loan-to-Value on single-family single-unit residences.
  • Maximum 75% Loan-to-Value on 2-4 unit residences.
  • Interest rates likely higher compared to Primary or Second Home.

FHA Home Loans

Insured by the Federal Housing Administration, a low down payment solution that offers certain flexibilities for those with lower credit scores or those with major adverse credit events in the past.

FHA home loans require a Up-Front Mortgage Insurance Premium of 1.75% of the loan amount as well as monthly mortgage insurance for the life of the loan when bringing the minimum required down payment.

First-Time Homebuyer Mortgage Solutions

Here's a short list of the best home loan programs available for first-time homebuyers.

Need more information on first-time homebuyer programs?

I've written a guide specific towards first-time homebuyers with much more information and detail. Please see my first-time homebuyer mortgage programs guide.

  • VA Home Loans – Offers 100% financing with zero down payment for borrowers with a military connection. 
  • USDA Home Loans – Offers 100% financing with no down payment in designated rural areas.
  • Conventional Home Loans - Offers the lowest down payment solution with the highest conforming loan limits. Better rates and lower (or no) mortgage insurance fees available with larger down payments. 
  • FHA Home Loans - The solution for homebuyers with weaker credit with a low down payment solution.
  • Utah Down Payment Assistance Loans - Solutions for Utah homebuyers that would like to finance their down payment and/or closing costs.
  • California Down Payment Assistance Loans - Solutions for California homebuyers that would like to finance their down payment and/or closing costs.

Need Help Choosing?

When overwhelmed, it's best to speak with an experienced Loan Officer you can trust! Send Scott Buehler a text or a call to 435.590.1019 to discuss what you are considering.


Scott will provide you with various loan scenarios showing you the differences between the best loan options you are considering. Take my 60-second questionnaire to get started.

About Scott Buehler

Scott Buehler Your Mortgage Consultant

Welcome to an exceptional home buying experience with Scott Buehler, a Senior Mortgage Consultant, by your side. I'm a proud father of three, a homeowner, hiker, biker, writer and love being around water (my zen place).

My goal is to be your Loan Officer for life. I'm here to help you finance your first home and every loan after. It is my hope this website and all guides establish me as your go-to professional for you, your family, friends, neighbors and everyone in-between.

Disclaimer

The content on this page provides general consumer information. It is not legal advice or regulatory guidance. Scott Buehler updates this information periodically. This information may include links or references to third-party resources or content. Scott Buehler or Veritas Funding does not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that may also serve your needs. Veritas Funding does not offer real estate services. Contact a licensed Real Estate Agent for real estate information. Veritas Funding does not provide credit repair services. Veritas Funding does not offer tax services. Contact your tax preparer for advice on your personal or business taxes.

Personal Hands-On Help with Scott Buehler

Every client is unique which requires special care, understanding, compassion and know-how. You will have specific questions that are based around your specific circumstances that aren't answered here.

As your mortgage consultant, I want you to understand that you can come to me directly with anything about home loans. There are no "dumb questions" about one of the largest financial transactions of your life! Please ask.

Accommodations Include: Email, texting, in-office meetings and phone calls. After-hour and weekend accommodations available by appointment.

Below, you will find a form to ask a direct question by email. Please verify your email is correct so you'll receive my reply. You may also send a text to 435.590.1019 to ask questions or to check availability for a phone call.

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