FHA
It’s easy to see why many homebuyers — especially first-time buyers — choose FHA loans. Because FHA loans are insured by the Federal Housing Administration, they offer more flexible qualification guidelines than many other loan options.
FHA loans are especially helpful for buyers who may have less-than-perfect credit, limited savings for a down payment, or are newer to the home-buying process. With lower minimum down payment requirements and more forgiving credit standards, FHA loans can make homeownership possible sooner than many people expect.
If you’re just getting started or want a more flexible path to buying a home, an FHA loan may be a great place to begin.
Conventional
Conventional loans are one of the most popular mortgage options — and for good reason. These loans aren’t backed by the government (like FHA, VA, or USDA loans), but instead follow guidelines set by Fannie Mae or Freddie Mac.
Because of that, conventional loans often come with lower interest rates, better terms, and fewer fees compared to other loan types. They’re a great fit for buyers who have strong credit, steady income, and manageable monthly debts.
Most conventional loans require a down payment of at least 5%, and borrowers typically need good to excellent credit to qualify. If you’re financially prepared and looking for a flexible, cost-effective mortgage option, a conventional loan may be an excellent choice.
VA
VA loans are a powerful home-financing option available to eligible U.S. service members, veterans, and surviving spouses. Backed by the U.S. Department of Veterans Affairs, these loans are designed to make homeownership more affordable for those who have served our country.
One of the biggest advantages of a VA loan is the ability to buy a home with no down payment, along with competitive interest rates and no monthly mortgage insurance. VA loans also offer flexible qualification guidelines, making them one of the most valuable mortgage programs available.
If you’ve served, a VA loan can be one of the best benefits you’ve earned — and a great path to homeownership.
USDA
USDA loans are a great option for buyers looking to purchase or refinance a home in eligible rural or suburban areas. These loans are insured by the U.S. Department of Agriculture and are designed to make homeownership more accessible outside of major metropolitan areas.
One of the biggest benefits of a USDA loan is the ability to buy a home with little to no down payment, making it especially appealing for qualified buyers with steady income who may not have significant savings. If the property location qualifies and you meet the income guidelines, a USDA loan can offer affordable payments and flexible terms.
If you’re buying outside a large city, a USDA loan could be a powerful path to homeownership.