Feeling lost in the mortgage maze? Don't worry, first-time homebuyer! The best mortgage depends on your credit score and how much you've saved for a down payment.
Here's a quick breakdown:
FHA loans: Great for low down payments (just 3.5%), but you'll have to pay mortgage insurance.
Conventional loans: Typically require a bigger down payment (around 20%), but you can ditch the mortgage insurance faster.
VA loans: A lifesaver for veterans, allowing you to buy a home with no down payment (there are some qualifications, though).
There's even more! Some states and localities offer additional programs to help first-time homebuyers. #SouthFloridaMortgage
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