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Mortgage Guides: Explore Your Loan Options
Navigating mortgages can feel overwhelming, but we’re here to guide you toward the perfect loan for your home-buying journey.
These guides break down FHA, VA, USDA, Conventional, and Conventional 97 loans, highlighting their unique benefits and features.
Whether you’re a first-time buyer, upgrading to your dream home, or seeking specific financial advantages, there’s an option to suit your needs. From low down payment programs to no PMI or rural housing benefits, these loans provide tailored solutions for a variety of buyers.
Explore your options to find the loan that fits your goals and helps you achieve homeownership.
FHA Loans
Overview
FHA loans are designed to make homeownership accessible to more buyers, especially those with lower credit scores or smaller down payments. Backed by the Federal Housing Administration, these loans are a popular choice for first-time buyers.
Key Benefits:
- Down payments as low as 3.5%
- Flexible credit score requirements
- Mortgage insurance required but more accessible than private insurance
- Ideal for buyers with limited savings
VA Loans
Overview
VA loans are a benefit exclusively for veterans, active-duty service members, and eligible surviving spouses. These loans provide competitive terms and significant savings, helping those who have served achieve homeownership.
Key Benefits:
- No down payment required
- No private mortgage insurance (PMI)
- Competitive interest rates
- Flexible qualification standards
USDA Loans
Overview
USDA loans, offered by the U.S. Department of Agriculture, help buyers in eligible rural and suburban areas secure affordable home financing. These loans are perfect for those looking for zero down payment options in less populated regions.
Key Benefits:
- No down payment required
- Low mortgage insurance premiums
- Competitive interest rates
- Designed for rural and suburban homebuyers
Conventional Loans
Overview
Conventional loans are a popular option for buyers with strong credit and savings. These loans are not backed by a government agency, offering flexibility and competitive rates.
Key Benefits:
- Down payments starting at 3%-20%
- No upfront mortgage insurance required with 20% down
- Wide variety of term options (10, 15, or 30 years)
- Ideal for buyers with higher credit scores
Learn More About Conventional Loans →
Conventional 97 Loans
Overview
The Conventional 97 loan is a great option for buyers with good credit but limited funds for a down payment. With backing from Fannie Mae or Freddie Mac, this loan offers flexibility and affordability for first-time buyers.
Key Benefits:
- Down payments as low as 3%
- No income limits in most areas
- Fixed-rate loan terms available
- Perfect for buyers with limited upfront savings