Loan Programs
No two borrowers are alike. That's why we don't believe in a one-size-fits-all approach to home financing. Whether you're purchasing your first home, upgrading to something larger, refinancing an existing loan, or investing in property, Milestone Mortgage Solutions has a solution built around your unique financial picture.
Our team will walk you through every available option, explain the pros and cons of each, and help you choose the loan that makes the most sense for where you are today — and where you're headed tomorrow.
Loan Programs
Conventional Loans
A conventional loan is one of the most popular mortgage options for buyers with solid credit and stable income. These loans are not backed by the federal government, which means they typically offer competitive interest rates and flexible terms for qualified borrowers.
Best for: Buyers with good to excellent credit, stable employment, and the ability to make a down payment of 3–20%.
Key Benefits:
- Competitive interest rates
- Available in fixed and adjustable-rate terms
- No upfront mortgage insurance premium
- PMI can be removed once you reach 20% equity
FHA Loans
Backed by the Federal Housing Administration, FHA loans are designed to make homeownership more accessible for buyers who may not qualify for a conventional loan. With lower down payment requirements and more flexible credit guidelines, FHA loans are a popular choice for first-time buyers.
Best for: First-time homebuyers, buyers with lower credit scores, or those with limited savings for a down payment.
Key Benefits:
- Down payments as low as 3.5%
- More flexible credit score requirements
- Competitive interest rates
- Available for single-family homes, condos, and multi-unit properties
VA Loans
VA loans are a powerful benefit available to eligible veterans, active-duty service members, and surviving spouses. Backed by the U.S. Department of Veterans Affairs, these loans offer exceptional terms that are hard to match with any other mortgage product.
Best for: Veterans, active-duty military personnel, and eligible surviving spouses.
Key Benefits:
- No down payment required
- No private mortgage insurance (PMI)
- Competitive interest rates
- Flexible credit and income requirements
- Available for purchase and refinance
USDA Loans
USDA loans are backed by the U.S. Department of Agriculture and are designed to help moderate- to low-income buyers purchase homes in eligible rural and suburban areas. If you're open to living outside of a major metro area, a USDA loan can be an incredibly cost-effective way to buy.
Best for: Buyers purchasing in eligible rural or suburban areas who meet income requirements.
Key Benefits:
- No down payment required
- Below-market interest rates
- Reduced mortgage insurance costs
- Available for primary residences in eligible areas
Jumbo Loans
When a home's purchase price exceeds the conforming loan limits set by Fannie Mae and Freddie Mac, a jumbo loan is typically required. These loans are ideal for buyers purchasing higher-value properties and require strong credit and financial qualifications.
Best for: Buyers purchasing luxury or high-value homes that exceed standard conforming loan limits.
Key Benefits:
- Financing for higher-priced properties
- Competitive rates for well-qualified borrowers
- Fixed and adjustable-rate options available
- Flexible loan structures to fit complex financial situations
Refinance Loans
Refinancing replaces your existing mortgage with a new loan — often with a better rate, a different term, or access to your home's equity. Whether you're looking to lower your monthly payment, pay off your loan faster, or consolidate debt, a refinance could be the right move.
Best for: Existing homeowners looking to improve their loan terms or access built-up equity.
Types of Refinancing We Offer:
- Rate & Term Refinance – Lower your interest rate or change your loan term to reduce monthly payments or pay off your mortgage sooner.
- Cash-Out Refinance – Access the equity in your home to fund home improvements, consolidate debt, or cover major expenses.
- Streamline Refinance – A simplified refinance option available for existing FHA and VA loan holders.
