Additional Mortgage Options

If you have a lower down payment or credit score, Federal Housing Administration (FHA) loans, Veteran Affairs (VA) Home loans or a HomeRun mortgage could help you buy a home. Or if your home has a high value, you might need a jumbo loan.

FHA loans

An FHA loan is a mortgage insured by the Federal Housing Administration (FHA). This government-backed program offers lower down payments and fewer credit score restrictions than conventional mortgages. FHA loans are available as both fixed rate and adjustable rate mortgages.

FHA loans can be a good choice for:

  • First-time home buyers
  • Buyers with less than a 20% down payment
  • Buyers with a low credit score
  • Self-employed buyers
  • Buyers with limited employment history

Interested in or have questions about FHA loans? Call 1-800-248-4638 to speak with a Citi mortgage representative.

Frequently asked questions

What is the FHA loan limit?

VA home loans

If you're a current or former member of the U.S. Armed Forces or a surviving spouse of a service member, you could qualify for a Veterans Affairs (VA) home loan. This is a mortgage guaranteed by the Department of Veterans Affairs.

VA loans often have lower interest rates, mortgage closing costs and down payment requirements than conventional loans.

Interested in or have questions about VA loans? Call 1-800-248-4638 to speak with a Citi mortgage representative.

HomeRun mortgage

With low down payment options, affordable monthly payments and flexible credit guidelines, a HomeRun mortgage may help you fulfill your homeownership dreams.

Learn more about HomeRun

Jumbo loans

Loan amounts that stay within the limits set by the Government-Sponsored Enterprises (GSE) Fannie Mae or Freddie Mac are called conforming loans. Jumbo loan amounts are larger than those limits.

General conforming loan amounts:

These are the general conforming loan amounts, but may be adjusted higher depending on the property location.

  • Single family home or residence - $510,400
  • 2-unit home (duplex) - $653,550
  • 3-unit home (triplex) - $789,950
  • 4-unit home (fourplex) - $981,700

Jumbo loans:

  • Often carry a higher interest rate and could mean paying significantly more interest over the loan term.

Sometimes require a larger down payment and lower loan-to-value (LTV) ratio than a conventional mortgage.

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