FHA, Conventional, VA, USDA - pick it, plain English

Loan "types" just describe who's backing the loan and what they require. Four cover almost everyone:

FHA — Backed by the government, built for first-time and lower-credit buyers. As little as 3.5% down, forgiving on credit. The trade-off is mortgage insurance you pay along the way.

Conventional — The standard loan. As little as 3% down if you qualify, and you can drop mortgage insurance once you hit 20% equity. Rewards stronger credit.

VA — For veterans and active service members. Often 0% down, no monthly mortgage insurance. If you're eligible, it's usually the best deal available.

USDA — For homes in eligible rural and some suburban areas. Also often 0% down, with income limits.

You don't have to memorize this. A lender matches you to the right one — these lessons just mean you'll understand why when they do.

Next: KevaAI flags which loan types fit your situation before you ever talk to a lender.