| Types of Loans | CONVENTIONAL | VA | FHA | USDA |
| Eligibility Requirements |
Valid Social Security Number |
Veteran or Active Duty Military |
Legal US Resident with Valid SS Number |
US Citizen or Permanent Alien |
| Credit Requirements |
Varies by Lender, most require 660 minimum |
Most Lenders require a 620 Credit Score and a clean 12 month credit history |
Most lenders require a 620 min. credit score and a clean 12 month credit history |
Most Lenders require a 660 minimum credit score |
| Down Payment Requirements |
5-20% |
0 |
3.50% |
0 |
| Additional Requirements/ Info |
12-month work history required, lenders also examine assets. |
Honorable Discharge required, 2-year work history, VA Streamline refinance makes refinancing easy. |
2-Year work history Required, Non-Occupying Co-Borrower Allowed. |
Property must be in rural area, No credit waiver necessary if score is > 620. |
| Is this Loan Right for You? |
If you have great credit and money to put down, a conventional is a good way to go. |
For Veterans and Active Duty personnel, VA Loans are ideal as they offer low interest rates and no down payment. |
For 1st Time Home buyers, low down payment and relaxed credit guidelines, FHA is a great option. |
For Zero- Down, Rural housing, USDA is a great option. |
| Would you be eligible for the Loan? |
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| No Credit Check, No SSN, No Obligation Quotes from Leading Lenders |