When buying or refinancing, your Realtor®or Mortgage Professional may reference various types of loans.  It's important to be an educated mortgage consumer by understanding these types of home financing in order to know which loan type is best for you and your goals.

FHA - a mortgage loan insured by the Federal Housing Adninistration

Conventional - a loan not guaranteed or insured by the federal government

Jumbo - In most areas of the United States, these loans refer to mortgages of more than $647,200

USDA - USDA Rural Development's Single Family Housing Guaranteed Program to assist low to moderate income rural home buyers.

VA (Veteran) - Established by the United States Department of Veterans Affairs to help veterans and their families obtain home financing.  Qualified applicants typically are not required to put any money down on new purchases.