FHA
FHA loans are an attractive option, especially for first-time homeowners because it is insured by the Federal Housing Administration (FHA). Primarily, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.Typically the borrower can be approved with 3% Down vs 20% that is required on other loan programs.
VA Loans
A VA Loan is Designed to offer long-term financing to veterans. VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans.
Apply for a VA Loan with a VA Qualified Lender.
USDA
The USDA Rural Loan Program, also known as the rural development home loan, is a 30 year fixed rate mortgage designed for home buyers with low to moderate income. The USDA home loans are mortgages backed by the United Department of Agriculture.
