Learn more about lending products on the market today:

Conventional Loans:

• Fixed-rate mortgage: Most popular option, offering stable monthly payments throughout the loan term. Requires good credit score and down payment.

• Adjustable-rate mortgage (ARM): Interest rate adjusts periodically, leading to potential lower initial payments but with risk of future increases. Can be suitable for short-term ownership or specific scenarios.

Government-backed Loans:

• FHA loan: Insured by Federal Housing Administration, allows lower credit scores and down payments compared to conventional loans. Popular for first-time homebuyers.

• VA loan: Guaranteed by Department of Veterans Affairs, available to veterans and active-duty military with excellent terms like no down payment requirement.

• USDA loan: Backed by Department of Agriculture, targets rural areas with relaxed eligibility requirements and low down payments.

Construction Loans:

• Construction-to-permanent loan: Single loan covering both construction and permanent financing, with one closing and interest-only payments during construction.

• Construction-only loan: Short-term financing for the build phase, requiring conversion to a permanent loan upon completion.

• Owner-builder loan: For borrowers acting as their own builder, often requiring construction experience and higher qualifications.

Alternative Financing:

• Hard money loan: Private loan with faster approval but higher interest rates and fees, often used for quick turnaround or complex properties.