Conventional loans are the most common and widely available mortgage option. For borrowers with good credit, balanced income, debt, and funds for a down payment, they are often the least complicated way to get the most flexible mortgage options.
If you'd love to buy a home but lack good credit, a down payment, or are unable to cover closing costs, an FHA loan may be the solution for you. FHA financing was developed to provide homebuyers with an alternative to conventional financing and include attractive and flexible guidelines.
VA loans are for veterans, service members, and eligible surviving spouses, with no mortgage insurance and zero down payment requirements.
A USDA loan is a mortgage option available to eligible homebuyers that is sponsored by the United States Department of Agriculture to promote homeownership in rural communities. USDA Loans, sometimes called "RD Loans," offer 100% financing options on eligible rural properties.
If you need a loan that's above the current conforming limit of $510,400, then you've got yourself a jumbo loan. A fixed or adjustable-rate jumbo mortgage with flexible down payment options can help you move into that dream home or refinance your current mortgage. If you plan on putting less than 20% down, don't forget to ask about how you can avoid paying PMI.