If you’re a homebuyer in Florida, there are several different types of home loans and mortgage programs available to you. The most common are conventional loans, FHA loans, VA loans, and USDA loans. Each type of loan has its own specific requirements and benefits, so it’s important to research all your options before deciding which one is right for you.

Conventional loans are typically the best option for borrowers with good credit and a down payment of at least 5%. These loans offer low interest rates and flexible repayment terms.

FHA loans are backed by the Federal Housing Administration and are available to borrowers with less than perfect credit. These loans require a down payment of as little as 3.5% and come with lower interest rates than conventional loans.

VA loans are available to veterans, active duty military personnel, and their families. These loans offer 100% financing and don’t require a down payment.

USDA loans are available to borrowers in rural areas who meet certain income requirements. These loans offer low interest rates and don’t require a down payment.