Conventional, FHA, VA, USDA Loans

Conventional, FHA, VA, and USDA loans are four different types of mortgage loans commonly used in the United States. 

A conventional loan is a traditional mortgage not insured or guaranteed by any government agency. It typically requires a higher credit score and a larger down payment, making it suitable for borrowers with strong financial backgrounds. On the other hand, an FHA loan is backed by the Federal Housing Administration, making it more accessible to first-time homebuyers or those with lower credit scores and smaller down payment capabilities. VA loans are designed for veterans, active-duty service members, and eligible surviving spouses, provided by the Department of Veterans Affairs, offering favorable terms with no down payment required. 

Lastly, USDA loans, issued by the U.S. Department of Agriculture, cater to low-to-moderate income homebuyers in rural areas, offering 100% financing and competitive interest rates. Each type of loan has specific eligibility criteria and benefits, allowing borrowers to choose the one that best suits their financial situation and homeownership goals.

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