Best Type of Mortgage Loan

When it comes to buying a home, one of the biggest questions is: Which loan is best? The truth is, there isn’t a “one size fits all” answer — but here’s a quick look at the three most common options.

FHA Loans

• Good: Lower rates, lower down payment.
  
  

• Bad: Government underwriting can be tougher, and PMI (private mortgage insurance) sticks around for the life of the loan.
  
  

Conventional Loans

• Good: No PMI once you hit 20% equity, and it’s not government-backed.
  
  

• Bad: Rates are usually a little higher than FHA in today’s market.
  
  

VA Loans

• Good: Low rates, no PMI at all.
  
  

• Bad: Only available to veterans, and closing costs can run a little higher.
  
  

The bottom line? The “best loan” is the one that works best for your situation. At The Alexander Home Team, we teach buyers to look at the entire affordability package. At the end of the day, there are really just two numbers that matter:

👉 How much do I write a check for on closing day?
👉 How much do I write a check for every month?

When you know those, you’ll know which loan is right for you.

Brad and Stephanie Alexander – The Alexander Home Team
Helping families make their dreams a reality in Kyle and beyond.

Brad - 512-296-6817        Stephanie 512-749-5992        Office 512-361-1568

bradalexander@kw.com     salexander@kw.com           

www.alexanderhometeam.com  www.alexanderhometeam.kw.com

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