Buying a home is exciting, but figuring out the right loan can be confusing. Here’s a quick breakdown of the four most common types of home loans to help you understand your options before you start house hunting.

FHA Loan
FHA loans are great for first-time buyers. They come with low interest rates and are more forgiving on credit scores than conventional loans, making them a flexible starting point for many buyers.

USDA Loan
Designed for rural and some suburban areas, USDA loans offer no down payment and no private mortgage insurance (PMI). They’re also flexible with credit, making homeownership more accessible to qualified buyers.

VA Loan
For veterans and active service members, VA loans are a fantastic benefit — no down payment required, no PMI, and flexible credit guidelines. It’s a well-deserved advantage for those who’ve served.

Conventional Loan
Conventional loans tend to offer low rates for borrowers with good credit. They don’t have limits on area, income, or occupancy type, so they’re a strong choice for buyers with a solid financial profile.

Loan qualifications can change, and every buyer’s situation is unique. If you’d like a referral to a trusted local lender, reach out anytime! I’m happy to help connect you with someone who fits your needs.