Mortgage Loan Programs
Mortgage Loan Programs for Every Kind of Buyer
From zero-down VA and USDA financing to jumbo, construction and bank-statement loans, The Smith Mortgage Group, Powered by FCM, offers a full shelf of mortgage loan programs under one roof. Tell us about your goals and we will narrow the list to the options that genuinely fit.
Choosing a Program
Four questions that decide which home loan fits
Rate sheets rarely pick the winning loan. The program that serves you best usually comes down to four practical factors: the cash you can put toward a down payment, the shape of your credit history, the type of property you want, and the way your income is earned and documented. Shift any one of those and the recommendation can change completely.
Consider a few examples. A service member with full entitlement and limited savings is often a natural fit for VA financing. A self-employed contractor whose tax returns show heavy write-offs may be better served by a bank-statement or alternative-documentation loan. Someone buying a duplex to rent out will look at investor financing, while a family building on land they already own needs a single-close construction loan.
Because The Smith Mortgage Group is a division of First Community Mortgage, Inc. and licensed to originate in all 50 states, your file can move between programs without being handed to another company. Start with a no-pressure mortgage consultation and Sterling Smith will point you to the two or three options worth comparing.
- Down payment: from 0% on VA and USDA for eligible borrowers to a larger stake on investment property.
- Credit profile: recent credit events, collections and thin files all influence which program is the best match.
- Property type: primary residence, second home, rental, multi-unit, land or new construction.
- Income type: W-2 wages, 1099 earnings, business income and rental income each document differently.
Home Purchase Loans
Core home loan options for buyers
These five programs cover the majority of home purchases. Each one links to a detailed page explaining requirements, benefits and the steps to approval.
Conventional Mortgages
Fixed and adjustable terms for borrowers with solid credit, down payments as low as 3%–5% for qualified buyers, and PMI that can be removed later.
Learn more →FHA Loans
Government-insured financing with a minimum down payment of 3.5% for qualifying credit and more flexible underwriting for credit-building buyers.
Learn more →VA Loans
A benefit earned through service: 0% down for eligible borrowers, no monthly PMI and no lender fees on VA loans through FCM.
Learn more →USDA Loans
Zero-down financing for eligible households buying in qualifying rural and suburban areas, subject to income and location rules.
Learn more →Jumbo Mortgages
Financing for higher-priced homes that exceed conforming loan limits, with fixed and adjustable structures for strong borrower profiles.
Learn more →Refinance, Building and Specialty
Programs for owners, builders and investors
Beyond a standard purchase, our branch handles refinances, new construction, rental properties and income situations that agency guidelines do not fit neatly. Not sure where your market falls? See the areas we serve.
Refinancing Solutions
Rate-and-term, cash-out, FHA streamline and VA IRRRL options to lower a payment, shorten a term or tap equity.
Learn more →Construction Loans
One-time close construction-to-permanent financing and renovation loans that combine the build and the mortgage.
Learn more →Investment Property Financing
DSCR, portfolio, multi-unit and fix-and-flip financing structured around the property and your investing plan.
Learn more →Specialized & Non-QM Programs
Bank-statement, self-employed, alternative-documentation and credit-challenged options for borrowers outside the usual box.
Learn more →Mortgage Consulting
One-on-one guidance on program selection, rate comparisons and long-term homeownership planning before you commit.
Learn more →Areas We Serve
Licensed in all 50 states with 250+ metro service areas, from Middle Tennessee to coast-to-coast relocations.
Learn more →At a Glance
How the main purchase programs compare
A quick snapshot of typical features. Exact terms depend on your qualification, underwriting and each program's guidelines.
| Program | Typical minimum down | Mortgage insurance | Best suited for |
|---|---|---|---|
| Conventional | As low as 3%–5% for qualified buyers | PMI under 20% down, removable later | Established credit and steady income |
| FHA | 3.5% with qualifying credit | Upfront and annual MIP | First-time and credit-building buyers |
| VA | 0% for eligible borrowers | No monthly PMI; VA funding fee may apply | Veterans, service members, eligible surviving spouses |
| USDA | 0% for eligible borrowers | Guarantee fees instead of PMI | Moderate-income buyers in eligible areas |
| Jumbo | Generally larger than conforming loans | Varies by program | Higher-priced homes above conforming limits |
Want to see real payment differences? Run scenarios in our side-by-side loan comparison tool or check your price range with the home affordability calculator.
How It Works
From first conversation to closing day
Every program on this page follows the same basic path. The biggest factor in staying on schedule is how quickly documents come back to us.
Prequalify without a hard pull
Share your goals, income and assets. Getting started requires no hard credit pull, and we respond within 2 business hours.
Receive your pre-approval
Once documents are verified, pre-approval decisions can arrive in as little as 24 hours, with same-day pre-approvals available.
Lock in the right program
After you are under contract, we confirm the best-fit program, order the appraisal and title work and keep you updated as conditions clear.
Close and get your keys
Most loans close in 30–45 days, and qualified files can reach a 21-day closing. Sterling Smith stays on your file from start to finish.
Be Ready
Paperwork to gather before you apply
Missing pages are the most common cause of delay. Having these on hand keeps any program moving.
- W-2s or 1099s covering the last two years
- Federal tax returns if you are self-employed, earn commission or report rental income
- Recent pay stubs showing your current earnings
- Complete bank statements for accounts used for the down payment and reserves
- Government-issued photo ID for each borrower
- A signed gift letter if family is contributing funds
The full list, organized by loan type, lives on our mortgage document checklist.
Client Feedback
What clients say about working with us
Working with The Smith Mortgage Group made the home-buying process seamless. They explained every step and were always available when we had questions.
We were never left guessing. Every question got a straight answer the same day, and the paperwork was laid out for us in advance so nothing came as a surprise at the end.
The team took the time to walk us through the options instead of pushing one product. It felt like advice rather than a sales pitch, and that made the whole experience far less stressful.
Client stories as published by The Smith Mortgage Group. Read more on Sterling Smith's Facebook reviews page.
Answers
Questions about our loan programs
How do I know which loan program to start with?
Begin with your down payment, credit, property type and income source. Share those with our team and we will identify the handful of programs worth pricing out, then show you the numbers for each so the choice is clear.
Is prequalification the same as pre-approval?
No. Prequalification is an early estimate based on what you tell us, while pre-approval follows a review of verified credit, income and asset documents. Sellers take a pre-approval far more seriously, so it is worth getting before you tour homes. Our homebuying process timeline shows where each stage fits.
Will checking my options hurt my credit score?
Getting started does not require a hard credit pull. A full credit review happens later in the process, once you decide to move forward with a specific application.
Can you lend outside of Tennessee?
Yes. Our branch office is at 605 Delray Street in Shelbyville, TN, and we are licensed to originate in all 50 states. Relocating buyers, military families and out-of-state purchasers work with the same point of contact wherever the property is located.
What if my income is hard to document?
Self-employed and non-traditional earners often have more options than they expect. Bank-statement, alternative-documentation and other Non-QM programs may qualify you based on deposits or assets rather than tax returns, subject to underwriting.
Do I have to choose a program before I apply?
Not at all. Part of our job is recommending the right fit. Many clients apply with one program in mind and close on another after comparing payments, fees and long-term costs together.
Keep Exploring
Related resources
Let's Talk
Questions about mortgage loan programs?
Send a quick note and Sterling Smith will reply within two business hours (Mon–Fri, 9am–5pm CT). Prefer to talk now? Call or text 931-205-9873.
Loading the secure contact form… If it doesn't appear, call or text 931-205-9873 or email sterling.smith@fcmhomeloans.com.
Start Today
Ready to talk through your options?
Get a free, no-obligation consultation with Sterling Smith: clear answers, a side-by-side look at the programs you qualify for, and a plan built around your budget.