Understanding Loan Programs: Which One Is Right for You?

Buying a home isn’t “one-size-fits-all.” The type of loan you choose can affect your monthly payment, how much you need up front, and even how quickly you can qualify. We believe in making loan programs simple to understand, so here’s a breakdown of the most common options and what makes each unique.

1. Conventional Loan

Great for borrowers with good credit and a stable income.

1. Down payments can be as low as 3%, but 20% helps you avoid PMI (private mortgage insurance).

2. Flexible loan terms (15, 20, or 30 years).
   *Best if you want flexibility and don’t qualify for government-backed programs.

2. FHA Loan

Designed for first-time buyers or those with less-than-perfect credit.

1. Low down payment: as little as 3.5%.

2. Easier credit requirements compared to conventional loans.
   *Best if your credit isn’t perfect or you don’t have a big down payment saved.

3. VA Loan (For Veterans & Active Military)

No down payment required.

1. No private mortgage insurance (PMI).

2. Competitive interest rates and flexible credit requirements.
   *Best if you’ve served in the military or are currently serving — a powerful benefit you’ve earned.

4. USDA Loan (For Rural & Suburban Areas)

No down payment required.

1. Designed to promote homeownership in qualifying rural/suburban communities.

2. Must meet income limits and location eligibility.
   *Best if you want to buy in a smaller town or rural area.

5. Jumbo Loan

For high-priced homes that exceed standard loan limits (currently $766,550 in most areas).

1. Requires stronger credit, larger down payments (often 10%+), and higher income.
   *Best if you’re buying a luxury or higher-end property.

6. Hometown Heroes Program (Florida-Specific)

Up to $35,000 in assistance for down payment and closing costs.

1. Available to teachers, healthcare workers, first responders, childcare employees, military, veterans and more.

2. 0% interest and no monthly payments on the assistance loan. It’s deferred until you sell, refinance, or pay off your mortgage.
   *Best if you’re a community hero looking for help covering upfront costs.

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Which Loan Is Right for You?

The truth is, the “best” loan depends on your credit, income, savings, and goals. Some buyers qualify for multiple programs, and the trick is knowing which one saves you the most money in the long run. That’s where we come in. We don’t just hand you options, we guide you to the right fit so you can buy with confidence. We’ve already helped over 561 families achieve their homeownership dreams… and now that you’re here, we can help you too.