Most Common Mortgage Loan Types
Understand the most popular financing options available when buying a home in the United States.
Conventional Loan
Ideal for buyers with strong credit. Down payments typically range from 3% to 20%.
FHA Loan
Designed for buyers with lower credit scores. Requires as little as 3.5% down payment.
VA Loan
Available to eligible veterans and active duty service members. Offers 100% financing with no down payment.
USDA Loan
Designed for homes in eligible rural areas. Offers 100% financing for qualified buyers.
Fixed Rate Mortgage
Maintains a consistent interest rate for the life of the loan, commonly 15 or 30 years.
Adjustable Rate Mortgage ARM
Starts with a lower initial rate that adjusts periodically based on market conditions.
Each loan type has specific qualification requirements. A licensed lender will evaluate your financial profile to determine the best option for you.
Important
I am not a lender, but I can connect you with trusted mortgage professionals who will explain your options and review your financial situation in detail.
Not Sure Which Loan Is Right for You
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