What we verified in “Mortgage loan types: FHA, conventional, VA and USDA”

Statements and where we checked them

The statements with rules, figures or dates, with the exact place in the source and the date we checked them.

1. The CFPB explains that each loan type is designed for different situations and that, if several fit, you can ask lenders for several quotes to see which offers the best deal overall; it describes conventional loans as the majority of loans, typically cheaper than FHA loans but harder to get; FHA loans as low down payment and open to lower credit scores; VA loans as for veterans, servicemembers and surviving spouses; USDA loans as for low- to middle-income borrowers in rural areas; and state or local housing agency programs as possibly available to low- to middle-income borrowers, first-time homebuyers or public service employees.

   Sources 1 · Understand the different kinds of loans available (page last modified Feb. 18, 2026), '1. Loan type': 'Each loan type is designed for different situations'; 'ask lenders to provide several quotes so you can see which type offers the best deal overall'; 'Majority of loans'; 'Typically cost less than FHA loans but can be harder to get'; 'Low down payment, available to those with lower credit scores'; 'For veterans, servicemembers, or surviving spouses'; 'For low- to middle-income borrowers in rural areas'; 'Can be available to low- to middle-income borrowers, first-time homebuyers, or public service employees' · Checked October 17, 2026

2. The CFPB says rates vary among lenders, especially for shorter terms, and that you should always compare official loan proposals, called Loan Estimates, before deciding.

   Sources 1 · Understand the different kinds of loans available, '2. Loan term': 'Rates vary among lenders, especially for shorter terms'; 'Always compare official loan proposals, called Loan Estimates' · Checked October 17, 2026

3. According to the CFPB, shorter terms (15 years) have higher monthly payments, typically lower interest rates and a lower total cost, while 30-year terms have lower monthly payments, typically higher rates and a higher total cost; shorter terms save money because you pay interest for less time and the rate is usually lower, by as much as a full percentage point.

   Sources 1 · Understand the different kinds of loans available, '2. Loan term': 'Shorter loan terms generally save you money overall, but have higher monthly payments'; 'You are borrowing money and paying interest for a shorter amount of time'; 'The interest rate is usually lower—by as much as a full percentage point'; table: 'Higher monthly payments'; 'Typically lower interest rates'; 'Lower total cost'; 'Typically higher interest rates'; 'Higher total cost' · Checked October 17, 2026

4. According to the CFPB, a fixed rate is lower risk with no surprises: the rate and the principal and interest payment stay the same, though the total payment can still change if taxes, homeowners insurance or mortgage insurance change; an adjustable rate (ARM) starts with a lower rate, but after the initial fixed period it can go up or down with the market, and the principal and interest payment could go up a lot, even double; it may be worth considering if you plan to move within the initial fixed period, but if you stay longer you could end up paying a lot more.

   Sources 1 · Understand the different kinds of loans available, '3. Interest rate type': 'Lower risk, no surprises'; 'Higher risk, uncertainty'; 'Lower interest rate to start'; 'After initial fixed period, rate can increase or decrease based on the market'; 'Your total monthly payment can still change'; 'your monthly principal and interest payment could go up a lot, even double'; 'you plan to move again within the initial fixed period of an ARM'; 'you could end up paying a lot more' · Checked October 17, 2026

5. According to the CFPB, FHA loans come from private lenders and are regulated and insured by the Federal Housing Administration (FHA), which does not lend the money directly; they allow down payments as low as 3.5 percent and lower credit scores than most conventional loans; they have a maximum loan amount that varies by county; all of them require mortgage insurance; for borrowers with good credit and a medium (10-15 percent) down payment they tend to be more expensive than conventional loans, while for borrowers with lower scores or a smaller down payment they can often be the cheapest option; and there are no hard-and-fast rules, so ask lenders for quotes for both options and compare total costs.

   Sources 2 · FHA loans (page last modified Jun. 30, 2025): 'loans from private lenders that are regulated and insured by the Federal Housing Administration (FHA)'; 'The FHA doesn't lend the money directly'; 'Allow for down payments as low as 3.5 percent'; 'Allow lower credit scores than most conventional loans'; 'Have a maximum loan amount that varies by county'; 'Mortgage insurance is required for all FHA loans'; 'For borrowers with good credit and a medium (10-15 percent) down payment, FHA loans tend to be more expensive than conventional loans'; 'For borrowers with lower credit scores or a smaller down payment, FHA loans can often be the cheapest option'; 'there are no hard-and-fast rules'; 'ask lenders for quotes for both options and compare total costs' · Checked October 17, 2026

6. According to HUD Handbook 4000.1, for FHA to insure the maximum mortgage amount the borrower must make a Minimum Required Investment (MRI) of at least 3.5 percent of the property's Adjusted Value; for purchases the maximum loan-to-value (LTV) is 96.5 percent; a Minimum Decision Credit Score of 580 or above is eligible for maximum financing, and 500 to 579 is limited to a maximum LTV of 90 percent; below 500 the borrower is not eligible; borrowers with non-traditional or insufficient credit histories are eligible for maximum financing but must be manually underwritten; and the mortgage amount may be increased by the financed upfront premium (UFMIP).

   Sources 5 · HUD Handbook 4000.1 (last revised 8/12/2026): II.A.2.c.ii, Minimum Required Investment, p. 182: 'at least 3.5 percent of the Adjusted Value of the Property'; II.A.2.b.i, LTV limitations based on the borrower's credit score, p. 179: 'at or above 580 eligible for maximum financing'; 'between 500 and 579 limited to a maximum LTV of 90%'; 'Borrowers with non-traditional or insufficient credit histories are eligible for maximum financing but must be underwritten using the procedures in Manual Underwriting'; II.A.2.b.ii, Purchase, p. 180: 'For purchase transactions, the maximum LTV is 96.5 percent of the Adjusted Value'; II.A.2.a: 'The total mortgage amount may be increased by the financed UFMIP amount'; II.A.1, Borrower Minimum Decision Credit Score, (b) Eligibility Standard, p. 152: 'not eligible for FHA-insured financing if the MDCS is less than 500' · Checked October 17, 2026

7. According to HUD Mortgagee Letter 2023-05, effective for case numbers endorsed on or after March 20, 2023, the upfront mortgage insurance premium (UFMIP) is 175 basis points (1.75%) of the base loan amount; the annual premium (MIP) depends on the base loan amount, the loan-to-value ratio (LTV) and the term; for loans longer than 15 years, with an LTV of 90% or less the annual premium lasts 11 years, and with an LTV above 90% it lasts for the mortgage term; and the amount that separates the tables is the national conforming loan limit.

   Sources 6 · Mortgagee Letter 2023-05 (February 22, 2023): 'effective for case numbers endorsed on or after March 20, 2023'; 'amends the Base Loan amount threshold used to establish MIP rates to the national conforming loan limit'; Appendix 1.0, p. 2: 'All Mortgages: 175 Basis Points (bps) (1.75%) of the Base Loan Amount'; p. 3, 'Mortgage Term of More Than 15 Years': '≤ 90.00% 50 11 years'; '> 90.00% but ≤ 95.00% 50 Mortgage term'; '> 95.00% 55 Mortgage term' · Checked October 17, 2026

8. According to HUD Mortgagee Letter 2025-09, which had to be implemented for FHA case numbers assigned on or after May 25, 2025, eligibility for non-permanent resident borrowers was eliminated; lawful permanent residents and citizens of the Federated States of Micronesia, the Republic of the Marshall Islands and the Republic of Palau may be eligible under the same requirements as U.S. citizens; and a Social Security card is not sufficient to prove immigration or work status.

   Sources 7 · Mortgagee Letter 2025-09, Revisions to Residency Requirements (March 26, 2025): 'must be implemented for FHA case numbers assigned on or after May 25, 2025'; 'eliminating eligibility for non-permanent resident Borrowers'; 'A Borrower with lawful permanent resident status may be eligible for FHA-insured financing'; 'the Republic of the Marshall Islands, or the Republic of Palau'; 'the same requirements, terms, and conditions as those for U.S. citizens'; 'A Social Security card is not sufficient to prove immigration' · Checked October 17, 2026

9. According to the CFPB, 'conventional' just means the loan is not part of a specific government program; conventional loans typically cost less than FHA loans but can be harder to get; conforming loans have maximum amounts set by the government, and their other rules are set by Fannie Mae or Freddie Mac; with a down payment under 20% you typically need mortgage insurance; and for jumbo loans rules vary by lender, though they usually require good credit and a high down payment.

   Sources 3 · Conventional loans (page last modified Oct. 16, 2024): 'just means that the loan is not part of a specific government program'; 'Conventional loans typically cost less than FHA loans but can be more difficult to get'; 'Conforming loans have maximum loan amounts that are set by the government'; 'Other rules for conforming loans are set by Fannie Mae or Freddie Mac'; 'If your down payment is less than 20%, you'll typically need mortgage insurance'; 'Rules vary by lender, but usually need good credit and a high down payment to qualify' · Checked October 17, 2026

10. According to the Fannie Mae Selling Guide (B5-6-01), HomeReady is a conventional loan with underwriting flexibilities for borrowers who meet specific income criteria; its loan-to-value ratio can reach 97% on purchases (or limited cash-out refinances), with a fixed rate and a term of up to 30 years, on a one-unit principal residence, underwritten through DU only; total annual qualifying income may not exceed 80% of the area median income (AMI) for the property's location; and if all occupying borrowers are first-time homebuyers, homeownership education is required.

    Sources 8 · B5-6-01, HomeReady Mortgage Loan and Borrower Eligibility (06/04/2025): 'a conventional community lending mortgage that offers underwriting flexibilities to qualified borrowers who meet specific income criteria'; 'LTV, CLTV, or HCLTV Ratio 95.01 to 97%'; 'Purchase transactions or limited cash-out refinances only'; 'Fixed-rate loans with terms up to 30 years'; 'One-unit principal residence'; 'Underwriting Method DU only'; 'the total annual qualifying income may not exceed 80% of the AMI for the property's location'; 'Homeownership education is required for HomeReady purchase loans when all occupying borrowers are first-time homebuyers' · Checked October 17, 2026

11. According to the Fannie Mae Selling Guide (B3-5.1-01), for manually underwritten loans the minimum credit score is 620 for fixed-rate loans and 640 for adjustable-rate loans (ARMs); for loans run through Desktop Underwriter (DU) no minimum credit score is required, and DU assesses the borrower's creditworthiness using its risk factors.

    Sources 9 · B3-5.1-01, General Requirements for Credit Scores (04/22/2026), 'Minimum Credit Score Requirements': 'Manually underwritten loans'; 'The minimum credit score that applies for loan eligibility is: 620 — fixed-rate loans 640 — ARMs'; 'A minimum credit score is not required for DU loan casefiles'; 'DU will assess a borrower's creditworthiness' · Checked October 17, 2026

12. According to the Fannie Mae Selling Guide (B2-2-02), Fannie Mae buys mortgages made to non-U.S. citizens who are lawful permanent or non-permanent residents of the United States, under the same terms available to U.S. citizens; the lender decides which documents to use to verify status case by case, and by delivering the loan it warrants that the borrower is legally present in the country.

    Sources 10 · B2-2-02, Non–U.S. Citizen Borrower Eligibility Requirements (07/28/2015): 'Fannie Mae purchases and securitizes mortgages made to non–U.S. citizens who are lawful permanent or non-permanent residents of the United States under the same terms that are available to U.S. citizens'; 'The lender must make a determination of the non–U.S. citizen's status based on the circumstances of the individual case'; 'the lender represents and warrants that the non–U.S. citizen borrower is legally present in this country' · Checked October 17, 2026

13. According to the Fannie Mae Selling Guide (B7-1-01), unless another accepted form of credit enhancement is provided, the lender must obtain a primary mortgage insurance policy for a conventional first mortgage with a loan-to-value ratio (LTV) above 80%; for a purchase, the value used for the LTV is the lower of the sales price or the appraised value.

    Sources 11 · B7-1-01, Provision of Mortgage Insurance (04/02/2025), 'General Requirements': 'the lender must obtain a primary mortgage insurance policy for a conventional first mortgage loan that has an LTV ratio greater than 80%'; 'For a purchase money loan, the value used in determining the LTV ratio is the lower of the sales price or the appraised value' · Checked October 17, 2026

14. Under the Homeowners Protection Act, for a fixed-rate mortgage the 'termination date' is when the balance, based on the initial amortization schedule, is first scheduled to reach 78% of the property's original value; and the 'cancellation date' is, at the borrower's option, when the balance reaches 80% of the original value, based on the initial schedule or on actual payments.

    Sources 12 · 12 U.S.C. §4901, definitions of 'cancellation date' and 'termination date': 'is first scheduled to reach 80 percent of the original value of the property securing the loan'; 'based solely on actual payments, reaches 80 percent of the original value of the property securing the loan'; 'is first scheduled to reach 78 percent of the original value of the property securing the loan' · Checked October 17, 2026

15. Under the same law (12 U.S.C. §4902), private mortgage insurance is canceled on or after the cancellation date if the borrower asks the servicer in writing, has a good payment history, is current and meets the holder's requirements, such as showing that the property's value has not declined below its original value; and it terminates automatically on the termination date if the borrower is current (or, if not, on the first day of the first month after the borrower becomes current).

    Sources 13 · 12 U.S.C. §4902(a), Borrower cancellation: 'submits a request in writing to the servicer that cancellation be initiated'; 'has a good payment history with respect to the residential mortgage'; 'the value of the property securing the mortgage has not declined below the original value of the property'; (b), Automatic termination: 'on the termination date if, on that date, the mortgagor is current on the payments required'; 'on the first day of the first month beginning after the date that the mortgagor becomes current' · Checked October 17, 2026

16. According to FHFA, Fannie Mae and Freddie Mac are restricted by law to buying single-family mortgages with origination balances below a specific amount, the conforming loan limit; loans above it are known as jumbo loans; and the limits are set under a permanent formula established by the Housing and Economic Recovery Act of 2008 (HERA).

    Sources 14 · FHFA Conforming Loan Limits: 'Fannie Mae and Freddie Mac are restricted by law to purchasing single-family mortgages with origination balances below a specific amount'; 'Loans above this amount are known as jumbo loans'; 'a permanent formula was established under the Housing and Economic Recovery Act of 2008 (HERA)' · Checked October 17, 2026

17. According to the CFPB, for people who qualify, special loan programs can be more affordable than a conventional or FHA loan; the VA loan is for eligible veterans, current servicemembers and surviving spouses, made by private lenders and guaranteed by VA; it does not require monthly mortgage insurance premiums but usually requires an upfront fee at closing; and it is available with low or even zero down payments, but may cost more than a conventional loan if you have significant down payment funds and good credit.

    Sources 4 · Special loan programs (page last modified Jun. 27, 2024): 'special loan programs can be more affordable than a conventional or FHA loan'; 'eligible veterans, current servicemembers, and surviving spouses'; 'The loans are made by private lenders and guaranteed by the VA'; 'Do not require monthly mortgage insurance premiums, but usually require an upfront fee at closing'; 'Are available with low or even zero down payments, but may be more expensive than conventional loans if you have significant down payment funds and good credit' · Checked October 17, 2026

18. According to the CFPB, the US Department of Agriculture (USDA) offers a program similar to FHA and VA, designed for low- and moderate-income borrowers in rural areas; it offers zero down payments and is usually cheaper than FHA; and borrowers pay an upfront fee plus ongoing mortgage insurance premiums to USDA.

    Sources 4 · Special loan programs, 'USDA loan (or rural development loan)': 'The US Department of Agriculture offers a similar program to the FHA and VA'; 'designed for low- and moderate-income borrowers in rural areas'; 'They offer zero down payments and are usually cheaper than FHA loans'; 'Borrowers will pay an upfront fee as well as ongoing mortgage insurance premiums to the USDA' · Checked October 17, 2026

19. According to the CFPB, many states, local governments and nonprofits offer programs to make homeownership more affordable; many focus on low- and moderate-income families buying their first home; and many offer down payment assistance that can be used with a regular FHA or conventional loan.

    Sources 4 · Special loan programs, 'State and local programs': 'Many states, local governments, and nonprofits offer programs to make homeownership more affordable'; 'Many of these programs focus on low- and moderate-income families buying their first home'; 'Many programs offer down payment assistance that can be used with a regular FHA or conventional loan' · Checked October 17, 2026

20. According to VA, you may be eligible for a VA-backed purchase loan if you qualify for a Certificate of Eligibility (COE), meet VA's and your lender's standards for credit, income and other requirements, and will live in the home; the loan often offers no down payment as long as the sales price is not higher than the appraised value, borrowing up to the Fannie Mae/Freddie Mac conforming loan limit with no down payment in most areas, no private mortgage insurance (PMI) or mortgage insurance premiums (MIP), and no penalty for paying the loan off early.

    Sources 15 · Purchase loan (last updated January 7, 2026): 'You qualify for a VA-backed home loan Certificate of Eligibility (COE)'; 'standards for credit, income, and any other requirements'; 'You will live in the home you're buying with the loan'; 'No down payment as long as the sales price isn't higher than the home's appraised value'; 'The ability to borrow up to the Fannie Mae/Freddie Mac conforming loan limit on a no-down-payment loan in most areas'; 'No need for private mortgage insurance (PMI) or mortgage insurance premiums (MIP)'; 'No penalty fee if you pay the loan off early' · Checked October 17, 2026

21. According to VA, the funding fee is a one-time payment the veteran, service member or survivor makes on a VA-backed loan, which helps lower the cost for taxpayers because the program does not require down payments or monthly mortgage insurance; among others, it is not paid by those receiving VA compensation for a service-connected disability, surviving spouses receiving Dependency and Indemnity Compensation (DIC) and active-duty members who provide evidence of a Purple Heart; it can be included in the loan or paid in full at closing; and the amount depends on the type and amount of the loan, whether it is your first use of the benefit and your down payment.

    Sources 16 · VA funding fee and loan closing costs (last updated October 5, 2026): 'The VA funding fee is a one-time payment that the Veteran, service member, or survivor pays'; 'the VA home loan program doesn't require down payments or monthly mortgage insurance'; 'receiving VA compensation for a service-connected disability'; 'as the surviving spouse of a Veteran'; 'provide evidence that you received a Purple Heart'; 'Include the funding fee in your loan and pay it off over time'; 'Pay the full fee all at once at closing'; 'This depends on the amount of your loan and other factors'; 'Whether it's your first time, or a subsequent time'; 'Your down payment amount' · Checked October 17, 2026

22. According to VA, to finance with a VA-backed loan you must meet VA's and your lender's credit, income and occupancy requirements; the Certificate of Eligibility (COE) shows your lender that you qualify based on your service history and duty status; a service member who has served at least 90 continuous days meets the minimum active-duty requirement, and for veterans the minimum depends on when they served; a surviving spouse may get a COE if eligible for or receiving certain types of DIC, or if the spouse of a service member missing in action or held as a prisoner of war; and you can request the COE online or ask your lender to submit the application online for you.

    Sources 17 · Eligibility for VA home loan programs (last updated September 22, 2026): 'you must meet credit, income, and occupancy requirements from both us and your lender'; 'to show your lender that you qualify based on your service history and duty status'; 'If you've served for at least 90 continuous days'; 'The minimum active-duty service requirements depend on when you served'; 'You may be able to get a COE if you're a surviving spouse'; 'certain types of VA Dependency and Indemnity Compensation'; 'missing in action (MIA) or being held as a prisoner of war (POW)'; 'You can request a COE online right now, or you can ask your lender to submit an online application for you' · Checked October 17, 2026

23. Under 7 CFR §3555.151, in USDA's guaranteed program the household's adjusted income must not exceed the applicable moderate income limit at loan approval; applicants must show they are U.S. citizens, U.S. non-citizen nationals or qualified aliens; they must agree to and be able to occupy the home as their principal residence, and USDA will not guarantee loans for investment properties; and the dwelling must be modest, decent, safe and sanitary.

    Sources 18 · 7 CFR §3555.151(a)–(d): 'the household's adjusted income must not exceed the applicable moderate income limit'; 'Applicants must provide evidence acceptable to the Agency of their status as United States citizens, U.S. non-citizen nationals, or qualified aliens'; 'Applicants must agree and have the ability to occupy the dwelling as their principal residence'; 'Rural Development will not guarantee loans for investment properties'; 'The dwelling must be modest, decent, safe, and sanitary' · Checked October 17, 2026

24. Under 7 CFR §3555.10, moderate income is the greatest of: 115 percent of U.S. median family income; the average of the statewide and state non-metro median family income; or a figure based on the area low-income limit adjusted for household size, for the county or metro area of the property; and the definition of 'rural area' is in section 520 of the Housing Act of 1949.

    Sources 19 · 7 CFR §3555.10, Definitions: 'Moderate income'; '115 percent of the U.S. median family income'; 'The average of the state-wide and state non-metro median family income'; 'of the area low-income limit adjusted for household size'; 'is found in section 520 of the Housing Act of 1949' · Checked October 17, 2026

25. Under 7 CFR §3555.104, a USDA guaranteed loan must carry an interest rate that is fixed over the term of the loan, negotiated between lender and borrower; the term may not exceed 30 years; and adjustable-rate mortgages, balloon mortgages and mortgages with prepayment penalties are ineligible.

    Sources 20 · 7 CFR §3555.104(a)–(b): 'Is fixed over the term of the loan'; 'Shall be negotiated between the lender and the borrower'; 'The term of the loan may not exceed 30 years'; 'Adjustable rate mortgages, balloon term mortgages or mortgages requiring prepayment penalties are ineligible terms' · Checked October 17, 2026

26. USDA's Income and Property Eligibility Site is used to evaluate the likelihood that an applicant would be eligible; for many USDA loans household income must meet certain guidelines and the home must be in an eligible rural area as defined by USDA; the site lets you check whether a property is in an eligible area; and to apply for a guaranteed loan, USDA refers people to the program's approved lenders.

    Sources 21 · USDA Income and Property Eligibility Site: 'This site is used to evaluate the likelihood that a potential applicant would be eligible for program assistance'; 'household income must meet certain guidelines'; 'the home to be purchased must be located in an eligible rural area as defined by USDA'; 'To determine if a property is located in an eligible rural area'; 'please reach out to any of the program's approved lenders' · Checked October 17, 2026

27. USDA announced that for fiscal year 2027, which begins October 1, 2026, an upfront guarantee fee of 1.00% and an annual fee of 0.35% apply to both purchase and refinance transactions in the guaranteed program.

    Sources 22 · Fiscal Year 2027 Conditional Commitment Notice (September 16, 2026): 'FY 2027 begins October 1, 2026'; 'an upfront guarantee fee of 1.00 percent and an annual fee of .35 percent apply to both purchase and refinance transactions' · Checked October 17, 2026

28. According to the CFPB, with a fixed-rate mortgage the interest rate is set when you take out the loan and will not change; with an adjustable-rate mortgage the rate may go up or down; many ARMs start at a lower rate than fixed-rate mortgages, and when the introductory period ends the rate changes at regular intervals and the payment is likely to go up; and it warns not to assume you will be able to sell or refinance before the rate changes, because the property's value could decline or your financial condition could change.

    Sources 23 · What is the difference between a fixed-rate and adjustable-rate mortgage (ARM) loan? (last reviewed Jan. 14, 2025): 'the interest rate is set when you take out the loan and will not change'; 'the interest rate may go up or down'; 'Many ARMs will start at a lower interest rate than fixed-rate mortgages'; 'your interest rate will change on a regular interval, and the amount of your payment is likely to go up'; 'Don't assume you'll be able to sell your home or refinance your loan before the rate changes'; 'The value of your property could decline, or your financial condition could change' · Checked October 17, 2026

29. According to the CFPB, the interest rate is the cost you pay each year to borrow the money, as a percentage, and does not reflect fees; the APR is a broader measure reflecting the rate, points, mortgage broker fees and other charges, so it is usually higher than the rate; on the Loan Estimate the rate is on page 1 ('Loan Terms') and the APR on page 3 ('Comparisons'); for adjustable-rate loans the APR does not reflect the maximum interest rate; and you should not look at the APR alone.

    Sources 24 · What is the difference between a mortgage interest rate and an APR? (last reviewed Aug. 28, 2026): 'The interest rate is the cost you will pay each year to borrow the money, expressed as a percentage rate'; 'It does not reflect fees or any other charges'; 'The APR reflects the interest rate, any points, mortgage broker fees, and other charges that you pay to get the loan'; 'your APR is usually higher than your interest rate'; 'page 1 under'; 'page 3 under'; 'For adjustable rate mortgage loans, the APR does not reflect the maximum interest rate of the loan'; 'Don't look at the APR alone' · Checked October 17, 2026

30. Points lower the interest rate in exchange for paying more at closing; lender credits lower closing costs up front in exchange for a higher interest rate.

    Sources 25 · How should I use lender credits and points (also called discount points)?: 'Points lower your interest rate, in exchange for paying more at closing'; 'Lender credits lower your closing costs up front, in exchange for a higher interest rate' · Checked October 17, 2026

31. HUD-approved housing counselors provide independent advice on buying a home, renting, defaults and credit issues, often free or at low cost.

    Sources 26 · Find a Housing Counselor: 'Housing counselors throughout the country can provide advice on buying a home, renting, defaults, forbearances, foreclosures, and credit issues'; 'they can offer independent advice, often at little or no cost to you' · Checked October 17, 2026