Conventional Loans

A conventional mortgage loan is one that's not guaranteed or insured by the federal government. Most conventional mortgage loans, aka conventional mortgages, are “conforming,” which simply means that they meet the requirements to be sold to Fannie Mae or Freddie Mac. 

The Federal Housing Administration (FHA) loan is the most popular government-backed home loan in the country.  You may be able to get FHA financing with as little as 3.5% down and FHA loans allow sellers to pay up to 6% of the loan amount to cover buyers' closing costs.

A jumbo mortgage loan consists of a higher loan amount than the conforming loan limits set by the Federal Housing Finance Agency.

 A USDA loan is a mortgage that offers considerable benefits for those wishing to purchase a home in an eligible rural area. USDA home loans are guaranteed by the United States Department of Agriculture (USDA). 

Guaranteed by the U.S. Department of Veteran Affairs, VA loans have exclusive benefits such as flexible requirements and favorable terms for veterans, active duty service members, and eligible surviving spouses.