Popular Loans for Buying a Home
Choosing the right loan type is one of the most important decisions in your home purchase. Here’s a comparison of the most popular options.
Conventional Loans
Not insured by the government. Available with as little as 3% down. Private mortgage insurance (PMI) required below 20% down but can be removed later. Best for buyers with good credit (680+) and stable income.
FHA Loans
Insured by the Federal Housing Administration. Minimum 3.5% down with 580+ credit score. More flexible credit guidelines. Mortgage insurance required for the life of the loan. Ideal for first-time buyers or those with lower credit scores.
VA Loans
Guaranteed by the Department of Veterans Affairs. No down payment required and no PMI. Available to veterans, active-duty military, and eligible spouses. Often the best deal available in mortgage lending.
USDA Loans
Backed by the U.S. Department of Agriculture for rural and suburban properties. No down payment required. Income limits apply. Many areas across Texas qualify — you might be surprised what’s eligible.
Jumbo Loans
For loan amounts exceeding conforming limits. Typically require 10-20% down and excellent credit. Competitive rates available for strong borrowers.
Which Loan Is Right for You?
The best loan depends on your credit score, down payment savings, military service, property location, and financial goals. QuickFund Mortgage offers all of these programs and can help you compare options side by side.