What's the best type of mortgage for a first-time homebuyer?

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

#RealEstateTips #Homeownership

#RealEstate

#FloridaRealEstate

#FloridaRealEstateAgent

#HighRates

#RacheliHomeMortgage

#MortgageAdvisorRacheli

#FairwayMortgageFlorida

#MortgageAdviser

#HomeBuyingTips