CIFI

Capital International Financial, Inc.

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Loan Programs

Conventional

Conventional Loans

A Conventional loan is a type of mortgage that is not insured or guaranteed by a government agency, such as the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA). Instead, it is backed by private lenders, like banks, credit unions, or mortgage companies, and typically conforms to guidelines set by Fannie Mae or Freddie Mac, two government-sponsored enterprises that buy and sell these loans in the secondary mortgage market.

Conventional loans are popular among homebuyers due to their flexibility and availability. They generally come in two forms: conforming and non-conforming. Conforming Conventional loans adhere to the loan limits established by the Federal Housing Finance Agency (FHFA), which for 2025 is set at $766,550 for most areas of the U.S., though it can be higher in high-cost regions. Non-conforming loans, such as jumbo loans, exceed these limits and often have stricter qualification requirements.

Key features of a Conventional loan include:
Down Payment: Typically ranges from 3% to 20% of the home’s purchase price, depending on the lender and borrower’s credit profile. A down payment of less than 20% usually requires private mortgage insurance (PMI).
Credit Requirements: Borrowers generally need a good credit score, often 620 or higher, though better rates are available for scores above 740.

Interest Rates: Can be fixed (consistent throughout the loan term) or adjustable (may change based on market conditions), with terms commonly ranging from 10 to 30 years.

Debt-to-Income Ratio (DTI): Lenders prefer a DTI of 43% or lower, though some may allow up to 50% with strong credit or compensating factors.

Private Mortgage Insurance (PMI): Required if the down payment is less than 20%, but it can be canceled once the borrower reaches 20% equity in the home.

Conventional loans are ideal for borrowers with solid credit histories, stable income, and the ability to make a down payment. They offer competitive interest rates and terms, making them a versatile option for purchasing a primary residence, second home, or investment property. However, they may be harder to qualify for compared to government-backed loans, especially for those with lower credit scores or limited funds.
FHA

FHA Loans

An FHA loan is a mortgage insured by the Federal Housing Administration (FHA), a part of the U.S. Department of Housing and Urban Development (HUD). Designed to make homeownership more accessible, especially for first-time buyers and those with moderate incomes, FHA loans offer flexible qualification requirements and lower down payment options compared to conventional mortgages.

Key features of an FHA loan include:
Low Down Payment: Borrowers can put down as little as 3.5% of the purchase price, provided they have a credit score of 580 or higher. For those with credit scores between 500 and 579, a 10% down payment is typically required.

Flexible Credit Requirements: FHA loans are more lenient with credit scores and past financial difficulties, such as bankruptcies or foreclosures, making them an option for borrowers who might not qualify for conventional loans.
Mortgage Insurance: Borrowers are required to pay an upfront mortgage insurance premium (UFMIP), typically 1.75% of the loan amount, as well as an annual mortgage insurance premium (MIP) that varies based on the loan term, amount, and down payment. This insurance protects lenders in case of default.

Loan Limits: The FHA sets maximum loan amounts based on the cost of living in different areas, updated annually. For 2025, these limits vary by county and property type (e.g., single-family homes, duplexes).

Property Requirements: The home must meet certain safety, security, and structural standards, appraised by an FHA-approved appraiser.

FHA loans are popular for their affordability and accessibility, but they may come with higher overall costs due to the ongoing MIP. They’re ideal for buyers seeking a government-backed mortgage with less stringent eligibility criteria.
VA

VA Loans

A VA loan is a mortgage option specifically designed for eligible U.S. military veterans, active-duty service members, and certain surviving spouses. Backed by the Department of Veterans Affairs (VA), this loan program aims to help those who have served the country achieve homeownership with favorable terms that are often more accessible than conventional loans.

One of the standout features of a VA loan is that it typically requires no down payment, making it easier for qualified borrowers to purchase a home without needing to save up a large lump sum. Additionally, VA loans don’t require private mortgage insurance (PMI), which is usually mandatory for conventional loans with less than 20% down—saving borrowers on monthly costs. Interest rates on VA loans are often competitive, and the program offers flexible credit requirements, which can benefit those who might not qualify for other mortgage types.

To be eligible, borrowers need a Certificate of Eligibility (COE) from the VA, which verifies their service history meets specific guidelines (e.g., a minimum period of active duty, typically 90 days during wartime or 181 days during peacetime). The property must also meet VA standards, meaning it’s primarily for owner-occupied residences, not investment properties.
While there’s no down payment, VA loans do come with a funding fee—a one-time cost that varies based on factors like military status and whether it’s a first-time use of the benefit. This fee can often be rolled into the loan amount. Loan limits exist, but in many cases, qualified borrowers can finance homes above standard limits without a down payment, depending on their entitlement.

In short, a VA loan is a powerful tool for eligible service members and veterans, offering a path to homeownership with lower upfront costs, no PMI, and government-backed security for lenders, all tailored to honor their service.
USDA

USDA Loans

A USDA loan is a mortgage option offered through the United States Department of Agriculture (USDA) designed to help low- to moderate-income homebuyers purchase properties in eligible rural and suburban areas. Officially known as the USDA Rural Development Guaranteed Housing Loan, this program aims to promote homeownership and support economic development in less densely populated regions.

Key features of a USDA loan include:
No Down Payment: One of the standout benefits is that USDA loans require no down payment, making homeownership more accessible for those who may struggle to save for a traditional mortgage.

Low Interest Rates: These loans often come with competitive interest rates, which can be fixed for the term of the loan, typically 30 years.

Income Eligibility: Borrowers must meet income limits, which vary by location and household size, typically capped at 115% of the area’s median income.

Property Eligibility: The home must be located in a USDA-designated rural area, though many suburban communities near cities also qualify. The property must be a primary residence (no investment properties or vacation homes).

Credit and Fees: While flexible credit requirements apply (often a minimum score of 640 for streamlined approval), borrowers must demonstrate a stable income and ability to repay. A guarantee fee (upfront and annual) is required, which can often be rolled into the loan amount.

USDA loans are ideal for first-time homebuyers or those with limited funds, offering an affordable path to owning a home in qualifying areas. Eligibility can be checked through the USDA’s online tools or by consulting a lender approved to offer these loans.
Jumbo

Jumbo Loans

A Jumbo loan is a type of mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). These loans are designed to finance higher-priced properties that fall outside the scope of conventional mortgages backed by Fannie Mae or Freddie Mac. In 2025, the conforming loan limit for most areas in the U.S. is typically around $766,550 for a single-family home, though this amount can adjust annually based on housing market trends and may be higher in certain high-cost regions.

Jumbo loans are ideal for homebuyers seeking luxury homes, properties in competitive real estate markets, or larger residences that require financing beyond standard limits. Because they aren’t eligible for purchase by government-sponsored enterprises, Jumbo loans are considered non-conforming and often come with stricter requirements. Lenders typically require a higher credit score (often 700 or above), a lower debt-to-income ratio (usually 43% or less), and a larger down payment (commonly 20% or more). Additionally, borrowers may need to provide extensive documentation of income, assets, and reserves to demonstrate their ability to repay the loan.

Interest rates on Jumbo loans can vary—sometimes higher than conforming loans due to increased risk for lenders, though competitive rates may be available depending on the borrower’s financial profile and market conditions. These loans offer flexibility in terms of fixed-rate or adjustable-rate options, with terms typically ranging from 15 to 30 years.

In summary, a Jumbo loan provides a financing solution for high-value properties, catering to borrowers with strong credit and financial stability who need to borrow beyond conventional limits. It’s a key option for those investing in premium real estate, but it comes with more rigorous qualification standards and potentially higher costs.
Bank Statement

Bank Statement Loans

A Bank Statement loan is a type of mortgage designed for borrowers who may not qualify for traditional loans due to unconventional income sources or difficulty verifying income through standard documentation like W-2s or tax returns. This loan option is particularly popular among self-employed individuals, freelancers, business owners, or those with significant non-traditional income, such as tips, commissions, or investments.

What is a Bank Statement Loan?
A Bank Statement loan allows you to qualify for a mortgage using your bank statements instead of traditional income verification methods. Rather than submitting tax returns or pay stubs, lenders review 12 to 24 months of your personal or business bank statements to assess your income based on deposits. This flexible approach makes it an ideal solution for self-employed borrowers or those with irregular income streams who can demonstrate their ability to repay the loan.

Key Features:
Income Verification: Lenders calculate your qualifying income by averaging monthly deposits over a specified period (typically 12 or 24 months).

Down Payment: Often requires a higher down payment (e.g., 10-20%) compared to conventional loans, depending on the lender.

Credit Requirements: Minimum credit scores usually start around 620, though this varies by lender.
Interest Rates: Rates may be slightly higher than traditional mortgages due to the perceived risk.
Loan Limits: Available for both conforming and jumbo loan amounts, depending on the program.

Who It’s For:
Self-employed individuals or small business owners.
Borrowers with significant cash flow but limited taxable income.
Those who don’t fit the mold of conventional mortgage qualification.

Benefits:
No need for tax returns or W-2s—just provide bank statements.
Faster and simpler process for qualifying based on real cash flow.
Flexible options for those with non-traditional income sources.

Considerations:
Higher down payments and interest rates may apply.
Documentation of consistent deposits is key to approval.

Not all lenders offer Bank Statement loans, so finding a specialized provider is essential. Capital International Financial offers these loans
HomeReady®

Fannie Mae HomeReady® Mortgages

A HomeReady loan is a conventional mortgage option offered by Fannie Mae, designed to make homeownership more accessible for creditworthy borrowers with low to moderate incomes. It’s an ideal choice for first-time or repeat homebuyers who may face financial challenges, such as limited savings for a down payment or nontraditional income sources. With a HomeReady loan, borrowers can purchase or refinance a primary residence with as little as a 3% down payment, significantly lower than the standard 20% required for many conventional loans.

This program stands out for its flexibility. Borrowers can fund the down payment and closing costs using a variety of sources, including gifts, grants, or Fannie Mae’s Community Seconds program, with no minimum personal contribution required. It also allows income from non-occupant co-borrowers, such as parents, or even rental income from a boarder or accessory dwelling unit to help qualify, making it easier for households with unique financial situations to secure a mortgage.

Additional benefits include reduced private mortgage insurance (PMI) premiums compared to standard conventional loans, with the option to cancel PMI once the borrower achieves 20% equity in the home.

To qualify, borrowers need a minimum credit score of 620 and a debt-to-income ratio typically not exceeding 50%. Income must be at or below 80% of the area median income (AMI) for the property’s location, which can be verified using Fannie Mae’s AMI lookup tool. First-time homebuyers are required to complete a homeownership education course, such as Fannie Mae’s HomeView program, to ensure they’re prepared for the responsibilities of owning a home.

Available through participating lenders, HomeReady loans offer competitive interest rates and terms, including fixed-rate options up to 30 years or adjustable-rate mortgages. Whether you’re looking to buy a single-family home, condo, or multi-unit property (up to four units, if you live in one), a HomeReady loan could be the key to unlocking homeownership with greater affordability and flexibility. Contact a lender today to see if you qualify!
Home Possible®

The Freddie Mac Home Possible® mortgage

A Home Possible loan is an affordable mortgage option offered by Freddie Mac, designed to make homeownership more accessible for low- to moderate-income borrowers. This conventional loan program allows qualified buyers to purchase a home with as little as 3% down, significantly reducing the upfront cost compared to traditional mortgages. It’s an excellent choice for first-time homebuyers, move-up buyers, or even retirees who may have limited savings but can manage a monthly mortgage payment.

One of the standout features of the Home Possible loan is its flexibility in funding the down payment. Borrowers can use a variety of sources, such as gifts from family, grants, employer assistance programs, or even sweat equity—where the borrower contributes labor to improve the property. There’s no minimum contribution required from the borrower’s own funds, making it easier for those with limited cash reserves to qualify.

The program also offers reduced mortgage insurance costs compared to standard conventional loans, and borrowers can cancel the mortgage insurance once the loan balance drops below 80% of the home’s appraised value, potentially lowering monthly payments over time. Eligibility typically requires a credit score of at least 660, though options exist for those without a traditional credit score, provided they meet additional criteria like a 5% down payment. Income limits apply, generally capping household income at 80% of the area median income (AMI), though this can vary by location—especially in low-income or underserved areas where limits may be more flexible.

Home Possible loans support a range of property types, including single-family homes, condos, planned unit developments, and even certain manufactured homes. For first-time buyers, a homeownership education course is required, equipping them with the knowledge to manage their investment responsibly. With competitive interest rates and capped credit fees, this program provides a practical path to homeownership for those who might otherwise find it out of reach. Contact a mortgage specialist to see if a Home Possible loan fits your homebuying goals!
Limited Condo Review

Limited Condo Review

A Limited Condo Review is a streamlined evaluation process conducted by a lender or mortgage underwriter to assess a condominium project’s eligibility for certain types of mortgage financing, such as conventional loans backed by Fannie Mae or Freddie Mac. Unlike a Full Condo Review, which involves a detailed analysis of the condo association’s financials, legal documents, and property conditions, a Limited Condo Review is less rigorous and focuses on a smaller set of key criteria. It’s typically used for lower-risk scenarios, such as when a borrower has a higher down payment or the loan meets specific guidelines.

What is a Limited Condo Review?
A Limited Condo Review is a simplified assessment of a condominium project that lenders use to determine if it qualifies for mortgage financing. This process checks basic details, such as the condo’s occupancy rates, whether it’s primarily owner-occupied (versus rentals), and if there are any major legal or financial red flags. It’s faster and less detailed than a Full Condo Review, making it a great option for eligible borrowers looking to secure a loan with fewer hurdles. Typically, a Limited Review applies to well-established condo projects and loans with lower risk, like those with larger down payments. Contact us to see if your condo qualifies!

About US

Mission Statement

To give ordinary folk the chance at the American dream
To treat everyone as we would wish to be treated
To remember that everything we do is for the greater glory of God

We hire based on the applicant’s qualifications and the content of their character, integrity, and individual abilities. We believe in the Equal Employment Opportunity Act (EEOA). We believe Diversity, Equity and Inclusion are Morally and Ethically unacceptable, as well as a violation of the EEOA because it requires Employers to consider an applicant’s race, skin color and national origin as part of the hiring process.

C.I.F.I. has always been committed to providing loans for the average American. We strive to give all applicants the ability to achieve the American dream. Even though we can’t guarantee equal outcome, we can pledge equal opportunity.

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Loan Programs

Conventional Loans

FHA Loans

VA Loans

USDA Loans

Jumbo Loans

Bank Statement Loans

Fannie Mae HomeReady® Mortgages

The Freddie Mac Home Possible® mortgage

Limited Condo Review

About US

Mission Statement

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