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Loan programs

Loan type

Also known as: loan program, mortgage type

The mortgage program you model-Conventional, FHA, VA, or USDA-which changes rules like PMI.

Loan type is the mortgage program used for estimates. Conventional loans are not government-insured and often need PMI below 20% down. FHA, VA, and USDA are government-related programs with different insurance or fee structures and eligibility rules. This calculator uses loan type mainly to decide whether conventional PMI applies; it is not a full underwriting or eligibility check.

See also

Conventional loanFHA loanVA loanUSDA loanPMI (private mortgage insurance)
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Definitions are for general education. Loan products, insurance, and taxes vary by lender, location, and your situation. FinanceFlow calculators produce estimates only and are not a lender quote or professional advice.