The Path to Homeownership: Understanding FHA, VA, and USDA Financing with Coastal Funding

Most people think buying a home means settling for confusing mortgage rates and hidden fees. But your financial situation deserves a plan built just for you. With FHA, VA, and USDA options, Coastal Funding guides you through how to get a mortgage that fits your goals. Keep reading to see how tailored lending can clear the path to your new home.

Understanding Mortgage Financing Options

Buying

a home doesn’t have to be a maze of confusion. Let’s break down three popular mortgage options that could make your dream home a reality.

FHA Loans Explained

FHA loans open doors for many first-time buyers. These government-backed mortgages often require smaller down payments, making homeownership more accessible.

With an FHA loan, you might put down as little as 3.5% of the home’s price. This can be a game-changer if you’re short on savings but ready to own.

Credit requirements for FHA loans are often more forgiving too. While traditional loans might demand sky-high scores, FHA loans can work with credit in the 580 range or sometimes lower.

But remember, FHA loans come with mortgage insurance. This protects the lender but adds to your monthly costs. It’s crucial to weigh this against the benefits when planning your budget.

The Basics of VA Loans

For veterans and active-duty service members, VA loans can