VA Loans

  • Up to 100% Financing available (No down payment required)
  • Available to Active Duty and Honorably Discharged Veterans
  • Typically lower interest rates than Conventional loans
  • More lenient credit underwriting guidelines than Conventional
  • No monthly mortgage insurance (unlike FHA and Conventional)
  • Higher mortgage amount limits than FHA or USDA

FHA Loans

  • Lower down payment requirements (3.5%) than Conventional
  • Lower credit score requirements and more lenient guidelines
  • Gift funds from family may be used as a down payment
  • No income limit restrictions
  • Great for first-time homebuyers
  • Typically lower interest rates than Conventional loans

USDA Loans

  • Promotes homeownership in rural areas
  • No down payment required
  • Flexible credit guidelines
  • Generous income limit restrictions
  • Typically lower interest rates than Conventional loans
  • Lower monthly mortgage insurance than FHA or Conventional

Conventional Loans

  • No PMI (mortgage insurance) with 20% down payment
  • Great option for credit- and asset-worthy buyers
  • Higher loan limits than FHA
  • No income limits
  • Options for second homes and investment properties
  • Mortgage insurance drops off at certain LTV (unlike FHA)