FHA Loans
Federal Housing Administration (FHA) loans are issued by an FHA-approved lender, such as FMS Bank. These loans are insured by the FHA.
- Ideal for low- to moderate-income borrowers
- Flexible down payment and credit score requirements
- Requiring as little as 3.5 percent in down payment
USDA Loans
USDA home loans are backed by the U.S. Department of Agriculture, as part of the USDA Rural Development Guaranteed Housing Loan program.
- Available to low- to moderate-income borrowers
- Designed to encourage homeownership in rural areas
- USDA loans are for primary residences only
- USDA loans may qualify for below-market interest rates
- Flexible down payment and credit score requirements
- Some USDA loans do not require a down payment
VA Loans
A VA loan is guaranteed by the U.S. Department of Veterans Affairs. If you (or your spouse) served in the military, you may qualify for a VA loan.
- Designed to help veterans attain homeownership
- Buy, build, improve or refinance your primary home
- Flexible down payment and credit score requirements
- Low interest rates and no mortgage insurance required
- Most VA loans do not require a down payment