Types of Home Loans

Types of Home Loans

1. Conventional Home Loans – Standard mortgage loans that are not backed by the government, requiring a good credit score and down payment.
2. FHA Loans – Government-backed loans designed for first-time homebuyers with lower credit scores and smaller down payments.
3. VA Loans – Available to eligible military service members and veterans, offering zero down payment and favorable terms.
4. USDA Loans – Aimed at rural homebuyers, these loans require no down payment and have lower interest rates.
5. Home Equity Loans & HELOCs – These allow homeowners to borrow against the equity in their homes for renovations, debt consolidation, or other expenses.