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Mortgage comparison table

At Freedom Mortgage, we can help you buy a home with conventional, VA, FHA, and USDA loans. Learn more about the advantages and disadvantages of your homebuying choices with our comparison table.

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Conventional Loans
VA Loans
FHA Loans
USDA Loans
Government backed
No
Yes
Yes
Yes
Eligibility
No restrictions
Veterans, active duty military, & surviving spouses only
No restrictions
Rural & some suburban homebuyers only
Property type
Primary homes, vacation homes, and more
Primary homes only
Primary homes only
Primary homes only
Limits on loan amount
Yes
No
Yes
No
Down payment required
Yes
No for many home buyers
Yes
No for many home buyers
Minimum credit score
Often 620
Often between 580 and 620
Often 600
Often 640
Funding fee
No
Yes
No
No
Mortgage insurance
Yes with down payment less than 20%
No
Yes
Yes
Closing costs
Yes
Yes
Yes
Yes
Easier streamline refinancing
No
Yes
Yes
Yes