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Government-Insured Mortgage Loans

Flexible down payment and financing options

Offered through the Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA), and the USDA (United States Department of Agriculture-Rural Development) to those who qualify, government-insured mortgages require smaller down payments and have more flexible qualifying requirements than conventional mortgages.

FHA Loans

Benefits

Down payments as low as 3.5%
Down payment assistance may be available
Home purchase or refinance

FHA Loan Requirements

Primary residence only
Private mortgage insurance required
Maximum loan amount varies based on type of home and location

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VA Loans

Benefits

No down payment
Up to 100% VA financing
No monthly Private Mortgage Insurance required
Seller can contribute up to 4% towards closing costs

Military man holding his child in the air.

VA Loan Requirements

Primary residence only
Must be an eligible veteran
Maximum loan amount varies based on VA entitlement and the county in which the property is located

USDA Loans

Benefits

Up to 100% financing of the purchase price with no down payment
Additional financing may be provided for certain costs or allowable improvements
Allows up to 6% seller contributions for closing costs

USDA Loan Requirements

Primary residence only in designated rural areas
Maximum annual household income limits vary by county, state and family size
Must not have an ownership interest in any other residential dwelling at the time of approval

Government-Insured Mortgage Loans

FHA Loans

FHA Loan Requirements

VA Loans

VA Loan Requirements

USDA Loans

USDA Loan Requirements

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