Are you in need of a mortgage loan and do not know which type loan would be best for you? If you are a veteran, then a VA loan is hard to beat, but if you are not, then in most cases you will choose between a Conventional, FHA, or USDA loan. USDA can allow $0 down which is very attractive, and USDA does not have mortgage insurance involved, so with little or no $ down this would be the best bet with the following restrictions: 1) the home must be in the County, and 2) the total household income must be under the USDA county threshold, 3) USDA does have an up front USDA fee of 1.00% of loan amount, and a monthly USDA fee of .35% of the loan amount divided by 12. Rates are very attractive. FHA can be City or County but requires 3.50% down and involves 2 types of mortgage insurances: 1.750% up front fee based on loan amount, and 2) a monthly fee of .85% of the loan amount divided by 12 for a 30 year term ( less for 15 yr.). Rates are very attractive. Conventional loans require either 5% down for all homeowners, or a new 3% down program for first time buyers.Mortgage insurance costs are based on factors such as credit score, loan amount and loan to value.Conventional rates are attractive but higher than USDA or FHA. Which loan program is best for your needs? These products should be reviewed with your Mortgage Broker to best suit your needs. For excellent service, please contact Diversified Mortgage Brokers, serving Central Virginia and beyond for 30 years. Call us at 434-237-3143, email: dbi4009@aol.com, Web: www.diversifiedmortbrokers.com