Mortgage options
When it comes to mortgages, there's no one-size-fits-all. Let's find the one that meets your needs.

Federal Housing Administration (FHA) loan, ,
An FHA mortgage is a government-insured loan. FHA loans come with a 15-, 20-, 25- or 30-year term and have a fixed interest rate.
Things to consider:
While there are no specific income requirements to qualify, you’ll have to pay monthly mortgage insurance for the duration of the loan and a mortgage insurance premium at closing.

Veterans Affairs (VA) loan
A VA loan has no monthly mortgage insurance requirement. VA loans are available with 10-, 15-, 20-, 25- or 30-year terms.
Things to consider:
You must be a veteran, an active duty servicemember or a member of the National Guard or Reserve to qualify for a VA loan.

Alternative loan terms
While most mortgages are 30-years loans, there are 15- and 20-year options. If you’re looking to pay off your home faster, you may want to consider refinancing for a shorter term.
Things to consider:
Since you’ll be paying off your loan over a shorter period of time, your monthly payments will likely be higher.
Take the first step of preapproval
Which loan works for your needs?
Consider these factors when deciding which loan fits your needs.
Conforming
This loan could be a good match if you have a good income and credit score.
Keep in mind there are strict lender requirements.
FHA
This loan could be a good match if you have a lower income or credit score.
Keep in mind that monthly mortgage insurance is required.
VA
This loan could be a good match if you're a veteran, active-duty servicemember or servicemember spouse.
Keep in mind this loan is not available to anyone outside these categories.