Conventional
Buyers with established credit and a steady down payment plan.
Down payment from 3%
- No upfront mortgage-insurance premium.
- Mortgage insurance can be removed at 20% equity.
- Flexible terms from 10 to 30 years.
Loan programs
Compare loan programs
Every buyer's numbers are different. Here is how the major programs stack up — and we'll tell you which one actually fits.
Loan programs
Six ways to finance a home
FHA
First-time buyers and buyers rebuilding credit.
Down payment from 3.5%
- Lower credit-score requirements than conventional.
- Down-payment help programs can apply.
- Upfront and monthly mortgage insurance apply.
VA
Veterans, active-duty service members, and eligible spouses.
Down payment from 0%
- No down payment for eligible borrowers.
- No monthly mortgage insurance.
- A one-time VA funding fee applies for most borrowers.
USDA
Buyers in eligible rural and suburban areas.
Down payment from 0%
- No down payment in eligible areas.
- Income limits apply.
- Parts of the Flagstaff area may qualify — check the address.
Adjustable-Rate (ARM)
Buyers who plan to move or refinance within the fixed period.
Down payment from 5%
- Lower initial rate for a fixed period.
- The rate adjusts after the fixed period ends.
- Caps limit how far the rate can move.
Jumbo
Buyers above the conforming loan limit.
Down payment from 10%
- Finances homes above the conforming limit.
- Stronger credit and reserves are required.
Side by side
| Program | Down payment from | Best for |
|---|---|---|
| Conventional | 3% | Buyers with established credit and a steady down payment plan. |
| FHA | 3.5% | First-time buyers and buyers rebuilding credit. |
| VA | 0% | Veterans, active-duty service members, and eligible spouses. |
| USDA | 0% | Buyers in eligible rural and suburban areas. |
| Adjustable-Rate (ARM) | 5% | Buyers who plan to move or refinance within the fixed period. |
| Jumbo | 10% | Buyers above the conforming loan limit. |
Down-payment minimums depend on your finances and the program's current rules. The table shows typical starting points — your exact number comes from a conversation, not a chart.
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