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| FHA |
| Conventional |
| VA loans |
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FHA
FHA loans have lower down payments and more lenient guidelines. Lower scores are more tolerable but there are loan limits.
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Conventional
this is conventional. Loan limit is 417,000. This loan is generally, not always for buyers with above average scores and putting 5% down or more.
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VA loans
VA loans are for eligible veterans or unmarried surviving spouses of veterans. This is I not down payment and no mortgage insurance loans with very very competitive interests.
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $484,350 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $484,350 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.
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