Home Loan Programs

The right loan starts with the right plan.

Every program below is a tool. My job is to help you pick the one that fits your life today and still makes sense ten years from now, and to explain it so clearly you never have to guess.

Find My Best Fit Compare Programs

The programs at a glance

A quick way to see where you might fit. We will confirm the details together.

ProgramMinimum down paymentOften a great fit forWorth knowing
ConventionalAs little as 3% for eligible first-time buyersSolid credit and steady incomeMortgage insurance can be removed as equity grows
FHA3.5%First-time buyers and credit that is still rebuildingMore flexible credit and debt guidelines
VA0% for eligible veterans and service membersThose who have served and their eligible spousesNo monthly mortgage insurance
USDA0% in eligible areasBuyers outside major metro areasProperty location and household income limits apply
Down Payment AssistanceHelp with down payment and closing costsBuyers with income but limited savingsPaired with a first mortgage; guidelines vary by program
PortfolioAs little as 0% on select programsPhysicians, community heroes, and unique filesGuidelines set in-house, not by Fannie or Freddie
Non-QMVaries by programSelf-employed, investors, and unique situationsQualifies you on how you really earn

General guidelines only. Eligibility, down payment and terms depend on your full application, credit, property and program requirements.

Couple sitting on the front steps of their home

Most popular

Conventional Loans

Conventional loans are not backed by a government agency. They follow guidelines set by Fannie Mae and Freddie Mac, and they often offer the strongest rates and terms for borrowers with good credit and steady income.

  • Down payment options from 3% to 20% or more
  • Mortgage insurance that can come off as your equity grows
  • Works for primary homes, second homes and investment property

Best fit: good to excellent credit, manageable monthly debt and reliable income.

See if Conventional fits me
New homeowner holding house keys at the front door

First-time buyer favorite

FHA Loans

FHA loans are insured by the Federal Housing Administration, which makes qualifying easier. They are a strong option for first-time buyers and anyone whose credit is still being rebuilt.

  • As little as 3.5% down
  • More forgiving credit and debt-to-income guidelines
  • Gift funds from family can help with the down payment

Best fit: first-time buyers, smaller down payments and less than perfect credit.

See if FHA fits me
American flag flying in front of a home

For those who served

VA Loans

VA loans are guaranteed by the U.S. Department of Veterans Affairs and are available to most service members, veterans and eligible surviving spouses. They carry some of the best benefits in lending, and you earned every one of them.

  • No down payment required for eligible borrowers
  • No monthly mortgage insurance
  • Benefits can be used more than once

Best fit: active duty, veterans, Guard and Reserve members with eligibility.

See if VA fits me
Rural home in a green mountain pasture

Zero down outside the city

USDA Loans

USDA loans are backed by the U.S. Department of Agriculture for buyers purchasing or refinancing in areas USDA does not consider a major metro. Many towns around the Willamette Valley qualify, and buyers are often surprised.

  • No down payment required in eligible areas
  • Competitive rates and lower mortgage insurance cost
  • Household income limits apply

Best fit: buyers who want room to breathe outside the bigger cities.

See if USDA fits me

Down Payment Help

Little or nothing down

Saving for a down payment is the number one thing that keeps renters renting. VA and USDA loans offer 0% down, and our portfolio programs offer up to 100% financing. For everyone else, there is down payment assistance.

Down Payment Assistance

Grants and second loans that cover some or all of your down payment and closing costs, paired with an FHA or Conventional first mortgage.

  • Help with down payment and closing costs
  • Great for buyers with income but limited savings
  • Income, price and education rules vary by program

See what I qualify for

Portfolio Lending

Loans built in-house for people who deserve a better option

Most mortgages are sold to Fannie Mae, Freddie Mac or a government agency, so they have to follow those rules. Portfolio loans are held by the lender, which means the guidelines can be written around real people and real careers.

Why portfolio lending matters

  • Higher financing, up to 100% on select programs
  • Flexible guidelines that look at your whole picture
  • Terms designed to build equity faster

Build equity faster

100% Financing, 20-Year Term

Buy with no down payment and pay the home off in 20 years instead of 30. You build equity much faster and pay far less interest over the life of the loan.

  • No down payment required
  • 20-year amortization
  • Fits the "first home to retirement home" plan
Ask about this option

Doctors and medical professionals

100% Physician Loans

Built for medical careers, where income is high but student loans are too, and the first years often mean a new contract in a new city.

  • Up to 100% financing
  • Student loan debt reviewed with your career in mind
  • Options for residents, fellows and new hires
Ask about Physician Loans

Those who serve our community

Heroes Home Loans

A thank you to the people who keep our community safe, healthy and learning, including law enforcement, firefighters, EMTs, nurses, teachers, healthcare workers and military.

  • Up to 100% financing
  • Designed for community service careers
  • Purchase and refinance options
Ask about Heroes Home Loans

Portfolio programs are subject to credit approval, eligible professions, property type, loan amount and program availability. Terms may change without notice.

Build, Renovate and Use Your Equity

Loans for every stage of homeownership

Your home is more than a place to live. These options help you build it, improve it, and put its value to work, from first home to retirement home.

Build from the ground up

Construction Loans

Finance the land, the build and your permanent mortgage, often in a single loan with one closing.

  • One-time close options
  • Draws paid as the build progresses
  • Lock your rate before you build
Ask about Construction

Buy and improve in one loan

Renovation Loans

Roll the cost of repairs and upgrades into your purchase or refinance through FHA 203(k), Fannie Mae HomeStyle and VA renovation options.

  • Based on the after-improved value
  • Great for fixer-uppers
  • Purchase or refinance
Ask about Renovation

Tap your equity, keep your rate

HELOCs

A home equity line of credit lets you borrow against your equity while keeping the low rate on your first mortgage.

  • Draw only what you need
  • Remodels, debt payoff and big expenses
  • Your first mortgage stays in place
Ask about a HELOC

Homeowners 62 and older

Reverse Mortgage (HECM)

Use your home equity in retirement, with the option to make a monthly mortgage payment or not.

  • Stay in the home you love
  • Purchase and refinance options
  • FHA-insured program
Learn more about HECMs

Construction, renovation and HELOC programs are subject to credit approval, property eligibility, contractor review and program guidelines. HELOC rates are variable.

Non-QM Loans

For those who do not fit in the box

Traditional loans are built around a W-2 and a tax return. Plenty of good borrowers do not look like that on paper. Non-QM programs qualify you on how you actually earn and what you actually own.

Self-employed

Bank Statement Loans

Qualify using 12 or 24 months of business or personal bank deposits instead of tax returns that show write-offs.

1099 and business owners

1099 and P&L Loans

Contractors and owners can qualify using 1099 income or a profit and loss statement.

Real estate investors

DSCR Investor Loans

Qualify based on the property's rental income instead of your personal income. Built for growing a portfolio.

Retirees and asset-rich

Asset-Based Loans

Use savings, investment or retirement accounts to qualify when your income does not tell the whole story.

Recent credit event

Fresh Start Options

Programs that may allow shorter waiting periods after a bankruptcy, foreclosure or short sale.

Salaried, simpler paperwork

Written VOE Loans

Qualify with a written verification of employment from your employer, with no tax returns or pay stubs required.

ITIN and foreign national

ITIN and Foreign National

Options for borrowers with an ITIN instead of a Social Security number, and for buyers who live outside the U.S.

Investors

Fix and Flip and Bridge Loans

Short-term financing to buy, renovate, or buy your next property before the current one sells.

Higher price points

Jumbo and Interest-Only

Flexible options for larger loan amounts and borrowers who want more control over cash flow.

Self-employed woman working on her laptop in a home office

The straight answer on Non-QM

These loans open doors, and they come with tradeoffs. I will show you both sides side by side, and if a traditional program can work for you now or in the near future, I will tell you that too.

  • Rates are typically higher than conventional loans
  • Larger down payments are often required
  • Many borrowers use Non-QM now and refinance later
Talk Through My Situation

More ways we help

Specialized guidance for specific life moments.

Mortgage-Free Faster

Strategies to pay off your home years sooner and save on interest.

Learn more

Buy Before You Sell

Move into your next home before your current one is sold.

Learn more

Life After Bankruptcy

The real timeline back to homeownership, step by step.

Learn more
Walt Schulz
Walt Schulz The Schulz Team, Waterstone Mortgage NMLS #291601

Not sure which program fits?

That is exactly what I am here for. Share a few details and I will come back with a clear recommendation, in plain English, with no pressure.

  • The one or two programs that fit you best
  • What your payment and cash to close could look like
  • What to do next, whether that is now or a year from now

Prefer to talk? Call or text (503) 551-8826

Meet Walt Schulz

Cut through the noise.
Retire with confidence.

Buying or refinancing real estate comes with a lot of noise. I help you cut through it, and together we create a plan you understand.

Book a Clarity Call My Story
Nearly 30
years in mortgage lending
First Home to
Retirement Home
every move in between
Purchase & Refinance
residential and investment loans
Annual Check-ups
Financial Fitness, every year
Education
free fiscal literacy classes, CE for Realtors and financial planners, and more
Salem
local roots, serving clients nationwide

A quick hello

A couple of minutes on who I am, how I work, and why I do this.

[ Video goes here ]
Walt Schulz

Why I do this

People ask me why I got into the mortgage industry. The honest answer? I thought it was something almost everyone would need, so the demand would always be there.

I've learned it's much more than that. It's moments.

  • The moment a family gets the keys to their first home.
  • The moment the nursery finally gets its own room.
  • The moment someone who thought they couldn't qualify finds out they can.
  • The moment someone who rebuilt after bankruptcy hears the word "approved."
  • The moment a single parent, starting over, walks into a home that's theirs alone.
  • The moment a family brings Mom and Dad home to live with them, and there's room for everyone.
  • The moment a couple in their 60s realizes they can retire comfortably because of the plan we put in place together.
  • The moment a senior who was about to lose their home gets to stay, and finally sleeps through the night again.

Those moments are why I do this. I believe that when people have clarity, their whole life gets better. And I believe everyone deserves great advice, without pressure, without confusion, and without the hype.

A mortgage is never really about the mortgage. It's about what it makes possible. The stability. The roots. The future.

Walt

What makes working with me different

I'm not your typical loan officer. I'm a mortgage advisor and debt strategist, someone you work with for life, not just on one purchase or refinance. Here's what that means for you.

01

Advice first, loan second

We start with your goals, not a product. Sometimes the right answer is "not yet," and I will tell you that, along with exactly what to do to get there.

02

A payment that works today

I won't stretch you to the max or count on rates dropping later. Your payment needs to fit your life right now, with room to breathe.

03

You will understand every number

Plain language, side by side options, and the "why" behind each one. If something is confusing, that's my job to fix, not yours to figure out.

04

Your whole financial picture

I work alongside financial planners, CPAs, and attorneys, so your mortgage fits your retirement, taxes, and estate plan instead of fighting them.

05

Education you can use

Through free webinars and fiscal literacy classes, I teach how money and mortgages really work, whether or not you ever borrow from me.

06

Every stage of life

First home, move up, investment and commercial property, and reverse mortgages for homeowners 62 and older. One advisor who knows your story.

Your home is part of your retirement plan

For most people, their home is their biggest asset. The way you finance it today shapes how you live later. Here is how we plan for that together.

Working years

Pay it off on purpose

We structure your loan around when you want to retire, so the payoff date is a choice, not an accident. Buying, refinancing, or paying down, every move has a reason.

Approaching retirement

Use your equity wisely

Rightsizing, helping family, or easing withdrawals from retirement accounts. We look at your equity alongside your planner and CPA, so it supports the bigger plan.

Age 62 and older*

Reverse mortgages (HECM)

Access your home equity and have the option to make a monthly mortgage payment or not. You stay on title, and we walk through the pros and the cons honestly, together with your family.

*In some states, private reverse mortgage programs are available to homeowners 55 and older.

How we work together

Five simple steps. No pressure at any of them.

1

Clarity: Dreams and Goals Call

A relaxed conversation about where you are and where you want to go. Bring every question you have.

2

Discovery Meeting: Your Plan

You get clear options in plain language, with the costs, the payments, and the long term impact laid out side by side. You choose with confidence.

3

Shopping for the Right Home

With your plan in hand, you shop with confidence, not guesswork.

  • A pre-approval letter updated for each offer you make
  • A payment estimate on any home you're considering, usually same day
  • I work hand in hand with your Realtor so your offer stands out and gets accepted with a competitive advantage
4

Close with Confidence

No surprises at the closing table.

  • A full recap of everything we discussed, in writing
  • Before you sign, we walk through your final numbers line by line and compare them to your plan
  • You sit down at closing already knowing every number
5

Beyond Closing

Closing day is the start of the relationship, not the end.

  • I watch rates for you, and call when a refinance or another loan option would actually make sense
  • Your Annual Financial Fitness Check-up, every year
  • Even when your payment goes to another loan servicer, I'm still your advisor, just a call or text away
My Philosophy

My job really begins when we close.

Most lenders get you into a loan, and then you never hear from them again.
That's not how we work.

Every year, our clients get an Annual Financial Fitness Check-up.
We look at more than just the mortgage.

✓

Your home's value

Has your home gained enough value to remove your mortgage insurance*, without a refinance?

✓

Your mortgage

Is your loan still working for you, or is there another option that would work better?

✓

Your protection

Are there gaps in your insurance, or a need for a will or trust? We connect you with trusted professionals.

✓

Your taxes

Could tax planning with the help of a CPA put more money back in your pocket?

From first home to retirement home.

We partner with you for life, on your first home, every move in between, and all the way to your last home.

*Mortgage insurance removal is subject to loan program and loan servicer requirements.

A typical mortgage experience vs. the Schulz Team experience

What many borrowers getWhat you get with me
A rate quote and a sales pitchA conversation about your goals and a written plan
Jargon and fine printPlain English answers to every question
Pressure to lock in todayTime and information to decide with confidence
Qualified for the maximumA payment that fits your life today
Your loan in a siloCoordination with your planner, CPA, and attorney
Silence after closingAnnual Financial Fitness Check-ups, from first home to retirement home

What clients say

★★★★★

"Walt was outstanding to work with throughout the entirety of the home buying process. I couldn't recommend him and the team any higher. Walt is extremely knowledgeable and personable and really cares about making the best deal happen for you. Thanks to the Schulz team!"

Caden S., Google Review

Have we worked together? Share your experience on Google

The code I live by

Know Your Code Live It Share It

The best advice comes from people who are clear on their values and actually live them. Honesty, clarity, and service guide every recommendation I make.

When you work with me, you get the same advice I would give, and have given, my own family.

Rooted in Salem

It's about bringing people together and serving one another. Here is where you will find me outside the office.

Shop with a Cop

I run Shop with a Cop in Marion County, pairing local kids with law enforcement officers for back to school and holiday shopping days. Hundreds of kids, and some of the best days of my year.

First Home IQ

Free monthly webinars that help people understand money, credit, and homeownership before they ever apply for a loan.

Classes and Education

Free fiscal literacy classes on budgeting, home buying, retirement, and more, plus CE classes for Realtors and financial planners.

Client Chef's Nights

I host private chef dinners for clients, where we learn to cook something great together right at the table. Part cooking class, part great conversation, all community.

For financial planners, CPAs, and attorneys

Your clients trust you with their financial future. I'm the mortgage partner who protects that trust: no pressure, no surprises, and recommendations that fit the plan you have built with them.

Let's Connect
  • Mortgage education for your teamA class series from mortgage basics through advanced loan strategy and reverse mortgages, built on real client case studies.
  • Coordinated planningI work alongside you, so the mortgage supports the retirement, tax, and estate plan instead of working against it.
  • Clear communicationYou stay informed at every step, and your client hears the same message from both of us.
Walt Schulz
Walt Schulz The Schulz Team, Waterstone Mortgage NMLS #291601

Let's create your plan

Book a no-pressure Clarity Call. Bring your questions, and leave with straight answers.

  • Where you stand today
  • The options that actually fit your goals
  • A clear next step, even if that step is "wait"
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State License

OR #291601

AK, CO, CT, DE, FL, GA, IN, KS, LA, MI, MN, MS, MT, MO, NE, NV, NC, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI, WY

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Contact Us

(503) 551-8826

3040 Commercial St SE, Ste 200 Salem, OR. 97302

Copyright 2026. All rights reserved. Walt Schulz NMLS #291601 | Equal Housing Opportunity | Equal Housing Lender

Waterstone Mortgage Corporation (NMLS #186434) is a wholly owned subsidiary of WaterStone Bank SSB (NASDQ: WSBF).

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