Conventional, VA, RD, FHA, and 203K - you probably had no idea there were so many options. So what’s the best way to go?
Well, of course, that answer depends on many factors such as location, amount of down payment, current interest rates, how much debt you’re carrying, and more. So the short answer would be to meet with a mortgage officer. It’s really not as intimidating as it sounds, and some mortgage officers are actually really personable and helpful.
So set up a meeting with a couple of loan officers (we recommend that you meet with two or three) so you can learn as much as possible, see if you feel more comfortable working with one versus another, and shop around for the best mortgage option.
For those who want to learn as much as possible before the meetings, so you can be better informed and ask better questions, please check out our links below.
Get Your Learn On:
- Maine Housing Quick Guide to MaineHousing Mortgages
- Freddie Mac’s Step by Step Mortgage Guide from Application to Closing
- Nerd Wallet’s Mortgage & Homebuying Guide
- The NeighborWorks® Center for Homeownership Education and Counseling’s Guide to Buying Your First Home
- US News Money’s Guide to Getting Your First Mortgage
You can also check out our resource on Mortgage Loan Calculators.
Mortgage Loan Calculators:
Lastly, if you are wondering whether it’s better to rent or buy, check out our “Rent or Buy?” resource.