Loan Programs — Beacon Lending
Loan programs

Find the loan that fits.

Every buyer is different. Here's a clear breakdown of our core programs — who they're for, and what the terms typically look like.

Most popular

Conventional

For buyers with good credit and a steady income looking for the lowest long-term cost.

Apply for conventional

Typical terms

  • As little as 3% down for qualified first-time buyers
  • Fixed terms of 30, 20, 15, or 10 years
  • PMI removable once you reach 20% equity
  • Credit scores generally 620 and above
  • Loan amounts up to the conforming limit
Low down payment

FHA

For first-time and lower-down buyers who want flexible credit requirements.

Apply for FHA

Typical terms

  • Down payments as low as 3.5%
  • Credit scores accepted from 580 (sometimes lower)
  • Government-backed for easier qualification
  • Gift funds allowed for down payment
  • Mortgage insurance applies for the life of most loans
Zero down

VA

For eligible veterans, active service members, and surviving spouses.

Apply for VA

Typical terms

  • 0% down payment for eligible borrowers
  • No private mortgage insurance (PMI)
  • Competitive, often below-market rates
  • Flexible credit and DTI guidelines
  • Reusable benefit and limited closing costs
High value

Jumbo

For financing homes priced above standard conforming loan limits.

Apply for jumbo

Typical terms

  • Loan amounts above the conforming limit
  • Down payments typically 10–20%
  • Stronger credit and reserve requirements
  • Fixed and adjustable options available
  • Competitive rates for qualified borrowers
Lower your rate

Refinance

For homeowners who want to lower a rate, shorten a term, or tap equity.

Apply to refinance

Typical terms

  • Rate-and-term refinance to lower monthly payment
  • Cash-out refinance to access home equity
  • Streamline options for FHA and VA loans
  • Roll closing costs into the loan where eligible
  • Fast turnarounds — many close inside two weeks
First home

First-time buyer

For people buying their very first home who want extra guidance and help.

Get started

Typical terms

  • Down-payment assistance and grant programs
  • Low- and no-down-payment loan options
  • Dedicated loan officer through the whole process
  • Education on credit, budgeting, and closing costs
  • State and local program matching
Sample rates

Today's example rates

Illustrative pricing for a well-qualified borrower. Your actual rate depends on credit, down payment, property, and market conditions.

ProgramTermRate (example)Min. down
Conventional
Fixed
30-year6.250%
6.412% APR
3%
Conventional
Fixed
15-year5.500%
5.689% APR
3%
FHA
Fixed
30-year5.990%
6.842% APR
3.5%
VA
Fixed
30-year5.875%
6.103% APR
0%
Jumbo
Fixed
30-year6.500%
6.598% APR
10%
Refinance
Rate & term
30-year6.375%
6.501% APR

Rates shown are examples for illustration only, assume a 740+ credit score and a single-family primary residence, and are not a quote, lock, or commitment to lend. APR reflects estimated costs over the loan term. Rates change daily. Get a personalized quote by starting an application.

FAQ

Questions, answered straight

The things buyers ask us most — no fine print, no runaround.

How much do I need for a down payment? +

It depends on the program. Conventional loans can go as low as 3% down for qualified first-time buyers, FHA starts at 3.5%, and VA loans can require nothing down at all. We'll walk you through the lowest option you actually qualify for.

Does getting pre-approved affect my credit? +

Checking your rate is a soft inquiry and won't affect your score. A full application involves a hard pull, but we'll always tell you before that happens so there are no surprises.

How long does it take to close? +

Our average is 14 days from a complete application to closing. Some loans move faster, some take a little longer depending on appraisal and documentation — but we'll give you a realistic timeline up front and keep you posted.

What credit score do I need? +

It varies by program. Conventional loans generally start around 620, FHA can go to 580 or lower, and VA is flexible. If your score isn't there yet, we'll give you a clear plan to get you ready.

Can I refinance even if I bought recently? +

Often, yes. If rates have dropped or your situation has changed, a refinance can still make sense within the first year. We'll run the numbers and tell you honestly whether it's worth it for you.

What do I need to apply? +

The basics: recent pay stubs, W-2s or tax returns, bank statements, and ID. If you're self-employed or have other income, we'll let you know exactly what to gather. The application itself takes about ten minutes.

Not sure which program fits?

Tell us a bit about your situation and we'll point you to the right loan — no pressure, no obligation.

Talk to a loan officer
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