Types of Loans Available
Your Financing Options
FHA
As little as 3.5% down for a 580 FICO score
Borrowers with no credit OK
Seller allowed to pay up to 6% in closing cost
More lenient underwriting guidelines
VA
As little as no money down for a 580+ FICO score
Seller allowed to pay up to 4% of closing cost
Borrower must be a Veteran or currently serving
Honorable discharge is required if no longer serving
USDA
As much as 102% financing with a 580+ FICO score
No maximum loan amount (based on income)
Property must be located in a rural development area
All closing cost may be financed into loan amount, up to appraised value
Conventional
As much as 97% financing with a 620+ FICO score
Seller is allowed to pay up to 3% of closing cost
Homestyle Renovation program available
No mortgage insurance at 81% LTV