USDA Home Loan Comparison	USDA-640	USDA-620	FHA-640	FHA-580	FHA-500	VA	CONV.	CONV.	CONV.
Loan Parameters:
Credit Score	640 and up	620-639	640 and up	580 -639	500 – 579	620 and up	680 and up	620-679	600-619
30 Year Loan Term
15 Year Loan Term
Minimum Down Payment Requirement	ZERO	ZERO	3.50%	3.50%	10%	ZERO	3%+	5%+	20%+
Upfront Insurance/Guarantee Fee/Funding Fee	2%	2%	1.75%	1.75%	1.75%	2.150%	NONE	NONE	NONE
Mortgage Insurance Rate*	0.40%	0.40%	1.25%	1.25%	1.15%		1.15%+	1.25%+	NONE
Non-Occupant Co-signer allowed
Minimum Loan Amount	50k	50k	50K	50k	50k	50k	50k	50k	50k
Maximum Debt Ratio	50%	41%	55%	50%	43%	50%	45%	45%	45%
Maximum Seller Concessions	6%	6%	6%	6%	6%	6%	3%	3%	6%
Annual Household Income Cap
Loan Amount Cap
Property Location Limited to Certain Areas
Note: Mortgage insurance rates on conventional loan programs are based upon credit scores whereas with the government loan programs the mortgage insurance is the same for every borrower and does not discriminate against a borrower’s credit score. Actual mortgage insurance rates may vary upon underwriting approval for non-government loan programs. Mortgage insurance is not required on VA Home Loans or Conventional Home Loans with 20% or larger down payments.