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VA, FHA and Conventional Loans

By Travis Wright, REALTOR®, with eXp Realty

Three common loan types and the differences between them. A lender can tell you which you qualify for.

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Tell me about your situation and I'll point you to the right questions to ask.

The quick tip
  • VA, FHA, and conventional are three common loan types.

  • They differ in down payment, requirements, and who may qualify.

  • Low down payment options may fit, depending on your situation.

Rather just talk? Text me at (580) 647-0915

Transcript

Travis Wright here, with eXp Realty. Let's break down the three loans most of my buyers use.

First, VA. It's for eligible veterans, active duty service members, and some surviving spouses. For those who qualify, it can mean zero down and no monthly mortgage insurance. If you've got PCS orders to Fort Sill, start early.

Second, FHA. It's popular with first-time buyers, needs as little as three and a half percent down, and is more flexible on credit.

Third, conventional. Some programs start at three percent down, and with twenty percent down you skip mortgage insurance altogether.

The right one depends on your situation, and my trusted lender can tell you which ones you qualify for.

If there are any homes you'd like to see, just reply with the word HOMES, and I'll set up a showing.

Travis Wright, REALTOR® with eXp Realty

Travis Wright with eXp Realty

I help buyers and sellers in Lawton and the surrounding area with straight answers, honest price ranges, and zero pressure. Ask me anything. Seriously, I like questions.

OK License #206164 · 1146 NW Cache Rd, Lawton, OK 73507 · (580) 647-0915

FAQ

Frequently Asked Questions

Who is a VA loan for?

Eligible veterans, active-duty service members, and some surviving spouses. For those who qualify, it can mean zero down and no monthly mortgage insurance. If you have PCS orders to Fort Sill, start early.

What should I know about an FHA loan?

It's popular with first-time buyers, needs as little as three and a half percent down, and is more flexible on credit.

What about a conventional loan?

Some programs start at three percent down, and with twenty percent down you skip mortgage insurance altogether.

How do I know which loan fits me?

It depends on your situation. Travis's trusted lender can tell you which ones you qualify for.

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