An FHA loan is a mortgage insured by the Federal Housing Administration that allows 3.5% down with flexible credit standards. Borrowers pay upfront and annual mortgage insurance. FHA can help first-time buyers qualify with lower down payments.

How do I apply for a VA home loan?

Check your eligibility on VA.gov, request a Certificate of Eligibility (COE), then apply through a VA-approved lender. You must meet lender credit, income and occupancy rules.

Who qualifies for USDA loans?

USDA Guaranteed loans serve low- to moderate-income borrowers buying in eligible rural areas. Income must be under area limits and the property must be in a USDA-eligible location.

Can I combine down payment assistance with low-down-payment mortgages?

In many states, yes. Assistance from state housing finance agencies and nonprofits can be layered with FHA, VA, USDA, HomeReady or Home Possible to cover down payment and closing costs.

Mike Rheaume, Publisher, Loans at Finder

Mike Rheaume is the publisher for loans, helping readers get the best deals on borrowing for major life events, debt consolidation and other needs, as well as protecting their assets and providing for their families. He previously worked in travel, helping to provide expert tips that can be seen on sites such as Cheapism and Nomad Paradise. Before Finder, Mike owned and operated online wedding photographer directory SnapKnot. Originally from the Boston suburbs, Mike now enjoys sunny, snowless winters in San Diego. Mike is passionate about personal finance, travel, and Boston sports.