Bigger loans, more government lending
Its typical loan was $305,000, against $115,000 for similar lenders (credit unions making between half and twice as many loans), larger than about nineteen in twenty. FHA loans (insured by the Federal Housing Administration) were 7.1% and VA loans (guaranteed by the Department of Veterans Affairs) 7.6%, where the typical similar lender made none. Jumbo loans (larger than the conforming limit) were 5.5% against 1.3%.