FHA vs Conventional vs VA Mortgage | Complete Comparison

VA, FHA, and Conventional loans are often compared, but the answer is different in different situations. Any of these loans could be the best option for you, but it depends on your unique circumstances. This video gives an extremely detailed comparison to help you decide which will be the best for you.

🏡 VA Loans:
If you're a veteran or an active-duty service member, lenders will often tell you about the benefits of VA loans including zero down payment, no private mortgage insurance (PMI) requirement, and relaxed credit requirements. Is that all legitimate? Discover the eligibility criteria and advantages of VA loans, as well as potential drawbacks to consider.

🏢 FHA Loans:
FHA loans are backed by the Federal Housing Administration, making them an attractive option for first-time homebuyers and individuals with lower credit scores. Learn about the low down payment requirements, flexible qualification criteria, and the role of PMI in FHA loans.

🏠 Conventional Loans:
Conventional loans are the most common type of mortgage and are not government-backed. We delve into the details of down payment options, credit score requirements, and the flexibility offered by conventional loans. Explore the advantages and disadvantages of this popular loan type.

NMLS 1902724 | Equal Housing Opportunity

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00:00 Intro
02:04 Basic Differences
05:11 History of Programs
07:06 Pros and Cons of Each Loan
24:09 Good Credit, 20% Down (Which Is Best?)
33:48 Lower Credit, 20% Down (Which Is Best?)
37:42 Good Credit, 5% Down (Which Is Best?)
41:29 Lower Credit, 5% Down (Which Is Best?)
44:28 Good Credit, 3.5% Down (Which Is Best?)
47:14 Lower Credit, 3.5% Down (Which Is Best?)