Financing

Conventional Loans
Conventional loans are mortgages not backed by a government agency. They typically offer competitive interest rates for borrowers with strong credit and stable income, and they may require as little as 3–5% down, though private mortgage insurance (PMI) is usually required with lower down payments.

FHA Loans
FHA loans are insured by the Federal Housing Administration and are designed to help first-time or credit-challenged buyers. They feature lower minimum credit score requirements and down payments as low as 3.5%, but include mandatory mortgage insurance premiums.

VA Loans
VA loans are available to eligible veterans, active-duty service members, and surviving spouses. Backed by the U.S. Department of Veterans Affairs, these loans often require no down payment, have no PMI, and offer favorable interest rates.

USDA Loans
USDA loans are backed by the U.S. Department of Agriculture and are intended for buyers in eligible rural and suburban areas. They offer zero down payment options and reduced mortgage insurance costs for qualifying low- to moderate-income borrowers.

Jumbo Loans
Jumbo loans are used to finance homes that exceed conventional loan limits. They typically require higher credit scores, larger down payments, and stronger financial profiles, but allow buyers to purchase higher-priced properties.

Fixed-Rate Mortgages
Fixed-rate mortgages have an interest rate that remains the same for the life of the loan. They provide predictable monthly payments and are ideal for buyers who plan to stay in their home long-term.

Adjustable-Rate Mortgages (ARMs)
Adjustable-rate mortgages start with a lower introductory interest rate that adjusts periodically after an initial fixed period. They can be attractive for short-term homeowners but involve the risk of rising payments over time.

Interest-Only Loans
Interest-only loans allow borrowers to pay only interest for a set period before principal payments begin. This option can lower initial payments but results in higher costs later and is best suited for financially sophisticated buyers.