Find the Loan That Fits Your Life

FHA, conventional, VA, and USDA — each has a sweet spot. Here's how they compare, in plain English. Not sure which is yours? That's what the free consultation is for.

Ask Which Fits Me

FHA Loans

Backed by the Federal Housing Administration, FHA loans are the workhorse of first-time homebuying — more than 80% of FHA purchase loans go to first-time buyers.

Down payment: as little as 3.5% with a 580+ credit score (10% down if your score is 500–579).
Credit flexibility: more forgiving than conventional loans — past bumps don't automatically disqualify you.
Mortgage insurance: FHA loans carry mortgage insurance premiums (MIP). If you put down less than 10%, it stays for the life of the loan; with 10%+ down, it drops after 11 years.
Loan limits: for 2026, FHA insures single-family loans from $541,287 in most counties up to $1,249,125 in high-cost areas.

Best for: first-time buyers, buyers rebuilding credit, anyone with limited savings for a down payment.

Fannie Mae & Freddie Mac

Conventional Loans

Conventional loans aren't government-backed, which means stricter credit standards — but real advantages once you qualify.

Down payment: as little as 3% for qualified first-time buyers.
Credit: typically 620+; stronger scores unlock better terms.
Mortgage insurance: private mortgage insurance (PMI) is required below 20% down — but unlike FHA, it cancels once you reach 20% equity.
Flexibility: can be used for primary homes, second homes, and investment properties.

Best for: buyers with solid credit who want mortgage insurance that eventually goes away.

For those who served

VA Loans

Earned through military service and backed by the Department of Veterans Affairs, VA loans are one of the best deals in homebuying.

Down payment: $0 down for eligible veterans, active-duty service members, and qualifying spouses.
No monthly mortgage insurance — a huge monthly savings vs. FHA or conventional.
Competitive terms and no prepayment penalties.
One-time VA funding fee applies (can be rolled into the loan); exempt for veterans with service-connected disabilities.

Best for: eligible veterans, active-duty military, and surviving spouses buying a primary residence.

Rural & suburban eligible areas

USDA Loans

Backed by the U.S. Department of Agriculture, USDA loans help buyers in eligible rural and suburban areas — and the eligibility map covers more places than most people expect.

Down payment: $0 down for eligible properties and incomes.
Income limits: designed for low- to moderate-income households; limits vary by county and household size.
Low mortgage insurance costs compared to FHA.
Property must be in a USDA-eligible area and serve as your primary residence.

Best for: buyers open to suburban or rural areas who want zero down without military service.

Which one is yours?

The right program depends on your credit, income, location, and goals — and the answer isn't always obvious. Get my free consultation or call (646) 977-1860 and I'll match you to the right fit.

Buying your first home? Start with the First-Time Buyer Hub. Own a home with an adjustable rate? See the ARM Reset Hub.