How to use these comparisons
Most mortgage decisions come down to two options, not ten. You're rarely choosing between every loan program at once — you're usually deciding between a specific pair, like FHA or conventional, or a 15-year or 30-year term. Each comparison below lays out that exact choice: the qualifying differences, a feature-by-feature table, when each option wins, and the questions people actually ask before deciding.
A few patterns show up across most of these comparisons. Government-backed programs (FHA, VA, USDA) generally trade a lower down payment or looser credit requirement for ongoing mortgage insurance or a one-time funding fee. Term-length comparisons (15 vs. 30 year) trade a lower monthly payment for a longer payoff and more total interest. And equity comparisons (HELOC vs. cash-out refinance) come down to whether you want to preserve your existing first-mortgage rate or replace it entirely.
If you're not sure which two options actually apply to your situation, start with your borrower profile or browse the full loan program list first — each program page links back to the comparisons that are actually relevant to it.
Common questions
Which comparison should I read first?+
Start with the choice that's actually in front of you. If you're deciding how to buy, FHA vs. Conventional or VA vs. Conventional usually apply. If you already have a mortgage and want cash, HELOC vs. Cash-Out Refinance is the right starting point. If you're choosing a term, 15-Year vs. 30-Year covers the tradeoff directly.
Do these comparisons include current rates?+
No — rates change daily and vary by credit, property, and loan amount, so these pages compare structure, qualifying rules, and costs rather than a specific rate. Current sample pricing lives on the mortgage rates page, and a loan officer can quote your exact scenario.
Can I qualify for more than one option?+
Often, yes. Many borrowers qualify for two or more programs and the comparison simply determines which one costs less or closes faster for their specific numbers. A loan officer can run the actual math side by side once you share your credit, income, and property details.