Minimum down payment
| Conventional | 3% | |
|---|---|---|
| FHA | 3.5% | |
| VA | 0% |
Conventional starts at 3% down, FHA at 3.5% and VA at zero down.
Mortgage insurance
| Conventional | Under 20% down | Can be removed later. |
|---|---|---|
| FHA | Required | Often for the life of the loan. |
| VA | None | A one-time funding fee instead. |
Mortgage insurance rules differ, and VA loans have none.
Minimum credit score
| Conventional | 620 | for a CapCenter loan |
|---|---|---|
| FHA | 620 | for a CapCenter loan |
| VA | 620 | for a CapCenter loan |
You need a credit score of at least 620 for a CapCenter loan.
VA loans are for
Eligible veterans, service members and some surviving spouses.
VA loans are for eligible veterans, service members and some surviving spouses.
ZERO Closing Costs
All three are available with ZERO Closing Costs (restrictions apply; upfront FHA mortgage insurance and VA funding fees aren’t covered; see Offer details).
