Buying a home can feel overwhelming, especially if you are not familiar with the different types of mortgages available. Here is a quick guide to the most common loan types.
Conforming loans
These meet Fannie Mae and Freddie Mac guidelines. They typically require good credit and a down payment, but offer competitive rates for qualified buyers.
FHA loans
Backed by the Federal Housing Administration, FHA loans are popular with first-time buyers because they allow lower credit scores and smaller down payments.
USDA loans
Designed for rural and suburban buyers, USDA loans can offer zero down payment for eligible properties and income levels.
VA loans
Available to veterans and active military, VA loans often require no down payment and carry no private mortgage insurance.
Which mortgage is right for me?
The best loan depends on your credit, savings, location, and military status. Attain helps you compare options and prepare your finances before you apply.
