Mortgage Loan Options: A Complete Guide

Finding the Right Loan Starts with the Right Partner

The mortgage you choose shapes not just your monthly payment, but your long-term financial flexibility.

At Austin Capital Mortgage, we do something different: we don’t lock you into one lender’s box.

We compare mortgage programs across the market and structure financing around your unique income and lifestyle.

Check Your Loan Options

Loan Options for every borrower

First Time Home Buyer
Who they are: Renters, younger professionals, or families buying their first home.

Relevant Loan Options:

FHA Loan (low down payment, flexible credit)

Conventional 3% Down Loan

1% Down Payment Loan Programs

Teacher Loan (1% Down)

First Responder Loan (1% Down)

First-Time Buyer Loan (1% Down)

Condo Loan (1% Down)

2-1 Buydown (eases into payments)

Homes for Heroes (if eligible)
Veterans & Military Families
Who they are: Active-duty, veterans, or military spouses.

Relevant Loan Options:

VA Loan (0% down, no PMI)

Homes for Heroes (if applicable)
Self-Employed & 1099 Earners
Who they are: Entrepreneurs, business owners, contractors, freelancers, and gig workers.

Relevant Loan Options:

Bank Statement Loan

1099 Loan

Asset-Based Loan (if rolled in)

Jumbo Loan (upto $2M)
Move-Up & Luxury Buyers
Who they are: Existing homeowners buying larger homes, or affluent buyers.

Relevant Loan Options:

Conventional Loan

Jumbo Loan

Construction Loan (if building new)

Adjustable-Rate Mortgage (for larger loans, short-term horizon)

Fixed-Rate Mortgage
Homeowners Looking to Refinance
Who they are: Existing owners seeking better terms, cash, or debt relief.

Relevant Loan Options:

Cash-Out Refinance

Rate-and-Term Refinance

Debt Consolidation Loan

2-1 Buydown
Professionals & Community Heroes
Who they are: Teachers, first responders, nurses, and public service workers.

Relevant Loan Options:

Teacher Loan

1% Down Teacher Loan

1% Down First Responder Loan

Homes for Heroes

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First Time Home Loans

FHA Loan

What it is?

A government-backed loan designed to make homeownership more accessible with lower credit score requirements and smaller down payments.

Who it’s for?

Buyers with limited savings for a down payment
Borrowers rebuilding credit
First-time home buyers who need extra flexibility

Key Benefits:

Down payments as low as 3.5%

Credit scores as low as 580 may qualify

Upto 53% debt-to-income (DTI) ratios

Looking for an FHA loan?

We don’t stop at “just FHA.” We combine FHA with Texas Down Payment Assistance programs (where eligible), stretch your buying power further, and negotiate rates across multiple lenders so you don’t pay more than you need to.

Conventional 3% Down Loan

What it is?

A conforming loan backed by Fannie Mae/Freddie Mac with lower down payment requirements.

Who it’s for?

Buyers with solid credit

Borrowers who want a traditional path without mortgage insurance forever

Key Benefits:

Only 3% down required for first-time buyers

Potentially lower mortgage insurance costs vs. FHA

Can remove PMI when equity reaches 20%

Looking to finance your first house with just 3% down?

Banks and other lenders push standard conventional loans.

We tailor terms to your financial goals, showing you how a 15-year vs. 30-year, or higher vs. lower down payment structure impacts your future wealth.