Conventional, FHA, USDA & VA Loans
The Big Four
There’s no one-size-fits-all mortgage.
The right loan depends on your credit, your savings, where you’re buying, and even whether you’ve served in the military. The good news is that there’s likely an option built for someone just like you. Start with the four most common loan types below, then click into any of them to learn more.
Conventional Loan
The flexible favorite
The most popular home loan in the country. Conventional loans aren’t backed by the government, and they reward strong credit with flexible options. They are typically best suited for buyers with good credit and steady income.
Down Payments as low as 3% for qualified buyers
Mortgage insurance (PMI) can be removed as you build equity
Use it for a primary home, second home, or investment property
Loan amounts up to the conforming limit for your county
FHA Loan
The credit-friendly option
Insured by the Federal Housing Administration, FHA loans are designed to make homeownership more reachable, especially if your credit isn’t perfect. An FHA loan might be a good option for first-time buyers or buyers rebuilding their credit.
Down Payments as low as 3.5%
More flexible credit requirements
Down Payment can come from a gift
Must be your primary residence
USDA Loan
homeownership beyond the city
Backed by the U.S. Department of Agriculture, USDA loans help buyers purchase homes in eligible rural and suburban areas. The USDA loan program is for moderate-income buyers purchasing outside major cities.
No down payment required for eligible buyers
Available in many small towns and suburbs, not just farmland
Household income limits apply
Must be your primary residence
VA Loan
earned through service
Guaranteed by the U.S. Department of Veterans Affairs, VA loans are a benefit for those who have served our country, including veterans, service members, and eligible surviving spouses
No down payment required for eligible buyers
No monthly mortgage insurance
Competitive interest rates
Available to eligible veterans, active-duty service members, and some surviving spouses
Frequently Asked Questions
Is this the same as renting?
No. Rent payments don’t build anything for you. With EEP, your payments reduce the amount you’ll need to pay to take full ownership, so you’re building equity as you go.
Do I own the home right away?
You have an ownership interest through your agreement, but legal title stays with our partner agency until you assume the loan, refinance, or pay off the remaining amount.
Who picks the house?
You do.
What if my credit isn’t perfect?
EEP was designed for buyers with past credit challenges. Reach out and we’ll talk through your situation and goals.
Let’s talk about your situation and see if the Arrive Home Earned Equity Program could be your path home.