Derek Huit · NMLS #203980 · Cardinal Financial
Loan programs, compared
VA, FHA, conventional, jumbo, and down payment assistance — side by side, in plain English, for Washington homebuyers.
Licensed in: AK · FL · GA · IL · IN · MI · MT · OK · TX · WA
Loan programs, compared
A side-by-side look at the major loan types for Washington buyers. Program availability varies by state and borrower profile — your pre-approval will confirm what you qualify for.
| Program | Who it's for | Down payment | Mortgage insurance | Best when |
|---|---|---|---|---|
| VA | Eligible veterans, active-duty service members, and qualifying spouses | Often available with no down payment | No monthly mortgage insurance in most cases | You're using earned VA benefits, PCSing, or reusing entitlement |
| FHA | First-time and credit-rebuilding buyers | Low down payment options | Mortgage insurance premiums apply | You want flexible qualifying guidelines |
| Conventional | Buyers with solid credit and stable income | Down payment options vary by profile | May be reduced or avoided depending on equity | You want flexible terms and a traditional path |
| Jumbo | Buyers of higher-priced homes | Larger down payments are typical | Varies by lender and program | Your price point sits above standard conforming limits |
Down payment assistance — the honest version
Cardinal's down payment assistance is a repayable second lien (3.5% or 5%, no income limit) — a real loan that gets paid back over time. It is not a grant, not a gift, and not free money.
- A second lien recorded against the property, repaid alongside your first mortgage.
- Available in either 3.5% or 5% of the loan amount, with no income limit.
- We'll show you exactly how the second lien affects your monthly picture before you commit — no surprises at closing.
Common questions
Which loan is right for me?
It depends on your service history, credit profile, down payment, and the home's price. Compare the table above, run your own estimates, then get pre-approved — the pre-approval is where your real options get confirmed.
Is down payment assistance free money?
No. Cardinal's down payment assistance is a repayable second lien (3.5% or 5%, no income limit) — a loan you pay back. Anyone describing it as a grant or free money is not describing this program accurately.
Will I get a rate quote here?
No. This site never quotes rates or payments. The calculator shows estimates from numbers you enter yourself — actual rates, terms, and programs are confirmed during underwriting and are subject to change.
Ready when you are
Get a real pre-approval from Derek Huit, NMLS #203980 — soft credit pull, real numbers, no obligation.
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