For Buyers
Home Loan Options
The right mortgage can mean better terms, lower payments, and long-term stability. Here are the most common loan types — and who each one fits.
Conventional
The most common option — flexible terms and competitive rates for well-qualified buyers.
- Terms of 10, 15, 20, or 30 years
- Lower rates for strong credit
- No mortgage insurance with 20% down
- Higher loan limits than government programs
FHA
Government-backed and first-time-buyer friendly — lower credit and down-payment requirements.
- Credit scores starting around 580
- As little as 3.5% down
- More lenient debt-to-income ratios
- Seller or lender can help with closing costs
VA
For active-duty military, veterans, and eligible spouses — among the most affordable loans available.
- Zero down payment
- No monthly mortgage insurance
- Competitive interest rates
- Limits on closing costs to protect you
USDA
For eligible rural and suburban homes — 100% financing with low mortgage insurance.
- Zero down payment
- Lower mortgage insurance than FHA
- Competitive interest rates
- Flexible credit & income guidelines
At a glance
Which loan is right for you?
The best option depends on your credit, down payment, income, and the home’s location. Here’s a quick comparison.
| Loan type | Min. credit | Down payment | Mortgage insurance | Best for |
|---|---|---|---|---|
| Conventional | 620+ | 3–20% | Required if <20% down | Buyers with good credit & stable income |
| FHA | 580+ (550 with 10% down) | 3.5%+ | Required (MIP) | First-time buyers & lower credit scores |
| VA | 580+ preferred | 0% | None | Military & veterans wanting 100% financing |
| USDA | 640+ preferred | 0% | Required (low) | Buyers in USDA-eligible areas |
Guidelines vary by lender and change over time. I’ll connect you with trusted local lenders to confirm what you qualify for.