Which loan is right for you? Listed below are some of the different highlights for each loan. Call us for more information.

FHA

• 3.5% down payment is required, but this can be gifted from family and friends.
• Does not have income limitations.
• It can be combined with THDA (state housing agency) for no down payment if you qualify. This will include an income limit, however.
• Easiest loan standards.
• FHA loans are eligible inside and outside city limits.

VA

• No down payment is required.
• No mortgage insurance is required.
• Second only to FHA in having the easiest loan guidelines available.

Rural Development

• No down payment is required.
• Does have income limitations.
• Must be outside of urban areas, such as Columbia and Spring Hill. Some entire counties are eligible, including Giles, Lawrence, Marshall and Lewis.

Conventional

• 5% down payment is required.
• Conventional loans have the most strict guidelines.
• No mortgage insurance is required with 20% down, or you can get a lender paid option on mortgage with a higher interest rate.