Finding the perfect home is tough and finding the perfect loan for your home can be even tougher. Use our handy break down of 5 different loans to find the best one for you!
Conventional:
The most common option and usually has the best interest rates
Best for repeat buyers
10% minimum down payment
VA: Veterans Affairs
Only available to veterans
0% down
ARM: Adjustable Rate Mortgage
These rates start out lower than any other option but fluctuate with the market(usually not for the better)
10% minimum down, 20% standard
Good for anyone
USDA: US Department of Agriculture
Developed to promote the purchase of rural land
0% down
Best for investors
FHA: Federal Housing Administration
Makes homeownership easy with less down and easier credit
3.5% minimum down, 20% standard
Best for first time buyers