Conventional loans are mortgages not backed by any government agency, which means the lender assumes all the risk. They typically require a higher credit score and down payment, but offer flexibility in terms and potentially lower insurance costs. FHA loans are backed by the Federal Housing Administration, allowing for lower down payments and more lenient credit requirements. This government backing makes these loans more accessible to first-time buyers and those with less-than-perfect credit, though they do require mortgage insurance. The right choice depends on your credit profile, savings, and timeline.

Down payment requirements vary by loan program. Conventional loans often require 5 to 20 percent down, though some programs allow for lower percentages. FHA loans can be obtained with as little as 3.5 percent down, making them accessible for buyers who haven't saved a large lump sum. VA loans may allow for zero down if you qualify based on your military service. USDA loans also offer zero down options for eligible rural properties. Our team can review your situation and explain what down payment options are available to you.

Yes. While credit history is one factor we consider, it's not the only one. We look at the whole picture—your income stability, employment history, savings, and the reasons behind any credit challenges. FHA and VA loans are specifically designed to work with borrowers who have less-than-ideal credit. Even with conventional loans, we may have options available. We encourage you to apply or speak with us directly about your specific situation rather than assuming you don't qualify.