Get My Quote Get Started

Buy a home, not a degree in paperwork

Loan Types and products

In short? All types. We have fixed and adjustable-rate mortgages, and customizable terms.

Purchase, refinance, investment properties, second homes, modular/manufactured housing, condominiums, new construction.

Yes! Our conventional loans can be a fixed rate or adjustable-rate mortgage. With a variety of down payment options, the minimum down payment requirement is 3%. There are also options that avoid mortgage insurance.

Indeed, we do. The FHA loan has helped grow homeownership rates in large cities and for minorities since its inception in 1934. It is designed for low-to-moderate income borrowers and requires a lower minimum down payment and lower credit scores than many conventional loans. Often this loan program is used by first time homebuyers or those who have not had an opportunity to build their credit or savings for down payment.

Yes, we do! First-time investors or many-time investors.

Investors who are also coin collectors on the side. Investors in fine jewels. A bedsheet ghost that are three investors stacked on top of each other (we do not lend to ghosts; they must be actual human investors).

Yes, we do! The Veterans Administration loan is available to honorably discharged veterans, active duty, or those have completed a total of six years of service in the National Guard or selected reserves. Certain surviving spouses of veterans are also eligible. There is no down payment required, no income restrictions, and no mortgage insurance requirement.

The Rural Housing Service (RHS) / United States Department of Agriculture (USDA) Loan is a no down payment, 100% financing program, which provides families with a low to moderate income level the opportunity to own a home in eligible rural areas.

The RHS loan provides no down payment financing in select rural areas. This in turn, attracts home buyers to less dense population areas. However, the family income cannot surpass an income threshold, and the property must be in an eligible area.

Yes, we do.

We do! When you purchase your home, piggyback a Home Equity Line of Credit (HELOC). Combining a HELOC with your conventional mortgage (or for eligible borrowers, in combination with some down payment assistance programs) you are more easily equipped with the money you need, while keeping the process simple.

Yes! There are certain criteria the property would be required to meet, so we would definitely want to chat with you about it.

Yes, we do offer FHA loans! The Federal Housing Administration (in case you were curious what FHA stood for) loan is a great option if you don’t have a huge down payment on hand; it might also be appealing if your credit score is not the greatest. The maximum loan amount is dependent on the county where you are purchasing a home, but we can help you figure that out.

Quillo will consider FICO scores as low as 580 for FHA and other government backed programs.

Yeah, that’s right – 580.

Want to find out if you qualify? Let’s get started.

To answer that, you should consider minimum down payment for the FHA loan is 3.5% but will require mortgage insurance, tacking on an extra monthly fee. As with most loans, the minimum credit score requirement is based on market conditions but compared to the other loan programs this one allows for lower credit scores. Currently, our minimum credit score requirement is 580 for an FHA loan. 

Like the noble Sasquatch, it is a myth that the FHA loan is only for first time home buyers – the FHA loan can be used for any home purchase if the qualifications are met. One qualification is the amount of the loan; the maximum loan amount depends on the county in which your property is listed. The FHA home loan is only an option for a primary residence and won’t work for investment properties or second homes, like vacation homes.

Do we?! (The answer is yes.) Our Hobby Farm loan program offers competitive pricing and financing for properties in rural communities

Properties include single family, primary and secondary residences in good condition, and generally range from 5 to 160 acres (over 160 acres is considered on a case-by-case basis).

Fixed rate 15 or 30-year terms are available. Eligibility includes a required minimum credit score of 680. A few property types will not work for this loan, including full-time farming or business properties, manufactured and mobile homes, berm homes, or dome homes. Properties with one additional home on the property may be considered.

Features of some qualifying properties include pastures and tillable acreage, horse ranches, livestock (generally 50 head or less), vineyards, organic farms, outbuildings, barns, stables, silos, and sheds.

To be eligible for the Hobby Farm loan program, a minimum 680 credit score is required.

Yes, we do. Several, in fact. 

Those programs include the FHA 203(k) Standard, FHA 203(k) Limited, and FNMA HomeStyle.

With the FHA 203k Standard, you can purchase or refinance the rate and term of your primary residence. 

The FHA 203k Standard option applies to attached or detached single family residences, PUD, Condominium, 2-4 units, and manufactured homes and primary residence. This loan program applies only to primary residence occupancy types. You must have a minimum credit score of at least 620. If purchasing, you could be eligible for down payment assistance – your mortgage banker can tell you if you qualify. 

The minimum repair amount is $5k, with no maximum repair amount. The types of repairs allowed include structural and non-structural repairs. No swimming pool construction is allowed; however, borrowers may repair a swimming pool up to $1,500. It may also be a great option for someone who wishes to build an addition to the existing home.

This product is not self-help (DIY) eligible, so your DIY Pinterest board might have to wait.

Like the Standard, with the FHA 203k Limited you may purchase or refinance the rate and term of your primary residence. Property type, credit score, loan-to-value are the same for both products – however, with the FHA 203k Limited, there is no minimum repair amount, but the maximum dollar amount for repairs is capped at $35k, including rehabilitation fees.

You might prefer the FHA 203k Limited over the standard if you are looking to make non-structural updates to your home, have no major building additions in store for your home, and no foundation work required.

Another helpful renovation loan program, the FNMA Homestyle is a good option for Purchase and Limited Cash-Out Refinance. This option is great for someone looking to make updates to their home and leveraging their home’s equity to do it!

The FNMA HomeStyle is different because it can be utilized to renovate primary residences, second homes or investment properties. It applies to attached or detached single family residences, PUD, Condominium, 1-4 units, and manufactured homes. You would need to talk to your mortgage banker about the minimum credit score required for qualifying and about determining loan-to-value for this program.

With the FNMA HomeStyle, you can make structural repairs, construct a swimming pool, and build additions – though the addition must meet FNMA requirements for accessory units.

Yes, we do!

Our Construction to Permanent program allows us to qualify you for a mortgage, process the loan through underwriting and close before completion of construction of your manufactured and modular purchase. With only one closing, you will not have to cover two sets of closing costs.

Quillo’s Construction to Permanent program is flexible and there is down payment assistance if you qualify. Below are examples of how this program works in combination with other loan programs:

Conventional Construction to Perm

  • Down Payment as low as 3%
  • Land Equity allowed as down payment
  • 15-30 Year Fixed Rates

FHA Construction to Perm

  • Down Payment as low as 3.5%
  • Land Equity allowed as down payment
  • 15-30 Year Fixed Rates

RHS Construction to Perm

  • No Down Payment Needed
  • Reduced Mortgage Insurance
  • 30 Year Fixed Rates

VA Construction to Perm

  • No Down Payment Needed
  • No Mortgage Insurance
  • 15-30 Year Fixed Rates

Yes, we do! We love self-employed peeps. Our Bank Statement loan program extends loan amounts up to $3 million, loan-to-value ratios up to 90% and alternative documentation options of 12 or 24 months of bank statements.

The minimum credit score to qualify for the Bank Statement loan is 600, and no derogatory event in the past 2 years.

If you’re self-employed, our Bank Statement loan program extends loan amounts up to $3 million, loan-to-value ratios up to 90% and alternative documentation options of 12 or 24 months of bank statements. Primary homes, second homes, or investment properties are eligible.

Yes, we do. A Jumbo loan is a program we would recommend for large loan amounts that are TOO LARGE for a conventional loan.

Is the loan amount you’re looking for up to $3 million for an owner-occupied property, or $2 million for a second home? This could be the loan for you! The criteria for the Jumbo loan program vary depending on your state, so let’s chat.

Yes, we do. You would be considered an eligible medical profession for this loan if you’re one of the following:

  • Medical Resident
  • Medical Doctor (MD)
  • Doctor of Dental Medicine (DMD)
  • Doctor of Ophthalmology (MD)
  • Doctor of Osteopathy (DO)
  • Chiropractor (DC)
  • Doctor of Surgery (DCH)
  • Medical Fellow
  • Doctor of Dental Surgery (DDS)
  • Doctor of Optometry (OD)
  • Doctor of Podiatric Medicine (DPM)
  • Pharmacist (RPH)
  • Doctor of Veterinarian Medicine (DVM)

Doctor of Psychiatric Medicine (DPM)

If you’ve determined that you’re among the eligible medical professionals mentioned here [link], this loan could be for you if you’re a currently practicing medical professional or your employment will start within 90 days of your loan closing. 

Quillo’s Doctor Loan loan program is built to help you qualify for a home loan, even if you have student loans or limited savings.

This program is a great option you if you are an eligible medical professional who wishes to purchase a single-family unit, condo, PUD, or a townhome.

In order to be eligible, you must also be a US citizen, Permanent Resident Alien, Non-permanent Resident alien with unexpired visa & valid passport of an unexpired EAD card, having at least one year credit history in the US, and a social security number. 

Please note that untraditional credit is ineligible.

Yes, we do. You can purchase a modular home through our Construction to Permanent loan program.

Mortgage 101

While we’d love to say that you absolutely will qualify for our lowest advertised rate, the truth is, you might not. And here’s why: interest rates vary by person, by circumstance, by day. There are some factors you can control like your credit score, loan-to-value ratio (or how much money you must put down on a house), and the type of property (manufactured, condo, second home, cash-out refi as determining risk factors); and some that you can’t – like the unemployment rate, economy, and inflation.

Yes, but only if you lock that bad boy.

A rate lock on a mortgage means that your interest rate won’t change between the offer and closing IF you close within a specified time frame and there are no changes to your application.

Rate locks are typically available for 30, 45, or 60 days, but sometimes longer. If you don’t lock your rate, it can change at any time.

APR stands for Annual Percentage Rate. APR is a broader measure of a mortgage that includes the interest rate and other fees and charges paid to obtain the mortgage.

Private Mortgage Insurance PMI) is a type of mortgage insurance that you’re required to pay if your down payment is less than 20 percent of the property value of your home. PMI protects the lender in the event you default on the loan, but once you’ve accumulated a certain amount of equity in your home, you may be able to cancel your PMI. Take that, PMI!

ARM stands for Adjustable-Rate Mortgage that has an interest rate that adjusts periodically based on a pre-selected index.

A fixed rate mortgage (FRM) is a mortgage that keeps the same interest rate and monthly payment through-out its term.

A loan term is the length of the loan, or the length of time it takes for a loan to be paid off completely when you make regularly scheduled payments. Mortgage terms are typically 15, 20 or 30 years.

A mortgage interest rate is the cost you will pay each year to borrow the money for your mortgage, expressed as a percentage rate, compared to APR (Annual Percentage Rate), which is a broader measure of the cost of borrower money than interest rate alone.

Reflected as a percentage, it’s the ratio of your monthly payment obligation, divided by your monthly income. If you’re some sort of math genius, the formula looks like this: MONTHLY DEBT / MONTHLY INCOME X 100 = YOUR DEBT-TO-INCOME RATIO.


A rate lock on a mortgage means that your interest rate won’t change between the offer and closing IF you close within a specified time frame and there are no changes to your application.

Rate locks are typically available for 30-, 45-, or 60-days, but sometimes longer. If you don’t lock your rate, it can change at any time.

You can switch products, no problem. You can also move your rate up or down, but there’s an increase in cost for a lower rate.

If you’re coming up on the end of your lock, we would do a rate lock extension. There are 7-, 15-, and 30-day extensions available, but there is a fee for extending a loan’s lock.


Refinancing is when you replace your existing mortgage with a new loan. Think of it like going back to the bank to renegotiate the purchase of your home, except you’re obviously already living in it. You might do this if you’re looking to lower your monthly payment or interest rate, or switch to a different loan product.*

In a cash-out refinance, you get a new mortgage than is more than your previous mortgage balance, and the difference is paid to you in cash. 

Skrilla. Bread. Cheddar. Paper. And what do people typically do with all this coin?

Pay down on high interest, revolving debt, or pay for upgrades to their homes.*

Yeah, that’s what we’re talking about.

Essentially the same sort of costs you incurred when you did your purchase – think closing costs and fees.*

Loan Process

We could tell you, but we’d rather show you. [Link video]


Yes! We LOVE self-employed borrowers.

If you’re self-employed, you could qualify for a Bank Statement loan, in which case we would ask you for 12 to 24 months of bank statements. 

Literally, that’s it.


A written estimate of the fair market value of a piece of property. 

For purchases and most refinances, yes. The amount of money you can borrower is partly determined by the appraised value of your home, which is determined by (can you guess?) the appraisal.

Homeowners’ Insurance

When you get a mortgage on your home, you must have homeowners’ insurance.

Like, GOTTA have it.

Still have questions? Get in touch.

Email, call, or chat us any time.


*For refinance transactions, be aware that by refinancing your existing loan, your total finance charges may be higher over the life of the loan.
This is not a commitment to lend.