Types of Small Home Loans

Types of Small Home Loans

1. Conventional Mortgages – Offered by banks and credit unions with standard credit and income requirements.

2. FHA Loans – Government-backed loans requiring low down payments and lower credit scores.

3. USDA Loans – For eligible rural homebuyers, offering zero down payment.

4. VA Loans – For military members and veterans, often with no down payment and low interest rates.

5. Personal Loans for Home Purchase – Alternative financing for small or non-traditional homes.