Our most popular loan for borrowers who qualify. Conventional loans offer more flexibility and options, but typically require a higher credit score and down payment.
For high-value properties, Jumbo loans typically require stricter credit and income qualifications.
A government-backed mortgage designed for borrowers with lower credit scores or smaller down payments.
A government-backed mortgage for low-to-moderate-income borrowers in eligible rural and suburban areas, offering no down payment and competitive interest rates.
NMLS #1195440
Mike Richardson is a seasoned professional in the mortgage industry, currently serving as the Producing Branch Manager at Gold Star Mortgage. With a mortgage license obtained in 2014, Mike has consistently excelled in his field, earning recognition as a Top 1% Mortgage Originator for six consecutive years (Scotsman Guide). His dedication and expertise have also garnered numerous accolades, including first-place rankings in prestigious local categories such as RGJ Best Lender/Best Mortgage Company for six years in a row, Reno News & Review Best Mortgage Company for three consecutive years, and Northern Nevada Business Weekly Best Mortgage Company. Mike’s commitment to excellence and outstanding performance make him a trusted name in the mortgage industry.
| Loan Type | Min. Down Payment | Credit Score Requirement | Loan Limit | Primary Use | Mortgage Insurance Required | Unique Features |
|---|---|---|---|---|---|---|
| Conventional | 3%-20% | 600+ | Conforming limits | Primary, secondary, investment | If less than 20% down | Flexible terms, various loan types |
| Jumbo | 10%-20% | 660+ | Exceeds conforming limits | High-value properties | No | Stricter qualifications for high-value homes |
| FHA | 3.50% | 540+ or 580+ manual |
FHA limits by county | Primary residences | Yes | Low down payment, flexible credit |
| VA | 0% | 540+ or 580+ manual |
VA limits by entitlement | Veterans, service members | No | No down payment, no PMI |
| USDA | 0% | 640+ | USDA limits by area | Rural properties | No | No down payment, rural eligibility |
| HELOC | Varies | Good to Excellent | Varies by equity | Equity access | No | Revolving credit line based on home equity |
| DPA | Varies | Varies | Varies | Down payment assistance | No | Assists with down payments |
| DSCR | Varies | Varies | Varies by property income | Investment properties | No | Focus on rental income for qualification |
| Bank Statement | Varies | 600+ | Varies | Self-employed borrowers | No | Income verified through bank statements |
| Construction | Typically 20% | Good to Excellent | Varies by project | Home construction | No | Covers cost of building new homes |
Producing Branch Manager
(775) 685-4678
mrichardson@goldstarfinancial.com
300 E Second St Suite 1205
Reno, NV 89501
We know a thing or two about the mortgage business. Above all else, we know that better listeners create better mortgages. At Gold Star Mortgage we listen to you, your dreams, worries, desires, finances, goals – all of it. This is how we develop a mortgage tailored to your needs and your dreams, one that outperforms all others.