Understanding YOUR Loan Options: Conventional, FHA, and VA

Understanding YOUR Loan Options: Conventional, FHA, and VA
Buying a home is one of the biggest financial decisions you’ll ever make—and choosing the right loan is a huge part of that journey. With so many options available, it can feel confusing to know which one is the best fit for you. At Coughtry Enterprises, we believe in making the process as simple and clear as possible. Let’s break down three of the most common loan types: Conventional, FHA, and VA.

 Conventional Loan

Conventional loans are the most widely used type of mortgage. They aren’t backed by the government and typically require a higher credit score and a larger down payment than other loan types.

• Down Payment: Usually 3%–20%

• Best For: Buyers with solid credit and steady income

• Benefits: Flexible terms, lower interest rates for qualified buyers, and no upfront mortgage insurance premium

If you’re financially stable and looking for flexibility, this could be the right choice!

FHA Loan

FHA (Federal Housing Administration) loans are designed to make homeownership more accessible especially for first-time buyers.

• Down Payment: As low as 3.5%

• Best For: Buyers with lower credit scores or limited savings

• Benefits: Easier qualification, smaller down payment, and government backing for added lender security

While FHA loans do require mortgage insurance, they can be a great stepping stone into homeownership.

VA Loan

VA (Veterans Affairs) loans are a powerful benefit available to eligible veterans, active-duty service members, and some surviving spouses.

• Down Payment: $0 required

• Best For: Veterans and military families

• Benefits: No private mortgage insurance (PMI), competitive interest rates, and little-to-no out-of-pocket costs

If you’ve served our country, this loan option is designed to serve you in return.

Which Loan is Right for You?

Every buyer’s situation is unique. The right loan depends on your financial picture, credit history, and future goals. Working with an experienced real estate team and trusted lender can help you understand your options and make the best choice for your needs.

At Coughtry Enterprises, we’re here to guide you through every step of the process—because buying a home should feel exciting, not overwhelming.

Ready to explore your options? Reach out today, and let’s take the first step toward finding the loan that fits your future!

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