Conventional Loans
Down payment: Generally, a down payment of at least 3% to 5% of the home’s purchase price is required.
Credit score: Typically, a minimum credit score of 620 or higher is preferred by most lenders. If you are under a 720, FHA is probably a better deal.
FHA Mortgage
Down payment: As little as 3.5% down paymentv requirement.
Credit score: Minimum credit score requirements can vary but typically starts at around 580. We can finance scores as low as 500 with 10% down.
VA Mortgage
Down payment: No down payment is required for eligible veterans, active-duty service members, and surviving spouses.
Credit score: While the VA does not set a minimum credit score requirement, most lenders require at least a 500.
USDA Mortgage
Down payment: No down payment is required for eligible properties located in designated rural areas.
Credit score: We can help clients with scores as low as 600, but most lenders require a 640 or higher
