FHA
FHA insures eligible mortgages made by approved lenders. One-to-four-unit properties may qualify. Ask about borrower qualifications, down payment, mortgage insurance, occupancy and property standards.
Planning how to pay for a home
Start with the full cost—not just the house price.
Better Builders can help you organize the home, land, site work, allowances and other project costs before you speak with a lender. Your lender or the applicable agency makes all loan decisions.
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What Better Builders can—and cannot—do
Better Builders is not a lender and does not guarantee approval, program eligibility, down payment, interest rate, payment, appraisal or closing terms. This is general education, not a loan offer. Sources reviewed September 19, 2026; confirm current requirements with the program and lender.
A plain-language look at common loan paths.
USDA Direct and Guaranteed are different programs. Check the specific property address and household eligibility; a city name or a builder’s advertisement does not establish USDA eligibility. These single-family USDA programs are not presented here as financing for income-producing rental properties.
USDA Section 502 Direct
USDA makes these loans for eligible low- and very-low-income applicants in eligible rural areas. Payment assistance may be available; subsidy repayment can apply later. Ask USDA about income, repayment ability, property standards and funding availability.
USDA Section 502 Guaranteed
Approved lenders offer this separate program for qualified applicants and eligible rural primary residences. No-down-payment financing may be available, but closing costs, eligibility and underwriting still matter.
VA
Eligible veterans, service members and qualifying surviving spouses should ask about a Certificate of Eligibility, lender standards, occupancy, appraisal and applicable fees. Eligible purchase uses can include a home with up to four units.
Conventional
Ask lenders to compare purchase options using your income, credit, assets, intended occupancy and property type. Compare the complete cost, mortgage insurance where applicable, cash needed at closing and loan terms—not only the advertised rate.
Construction-to-permanent
A one-time-close structure may combine construction and permanent financing. Confirm that the lender offers it for your borrower profile, property and builder; ask about draws, inspections, interest during construction and conversion requirements.
Texas down-payment assistance
TDHCA provides homebuyer program information and participating-lender resources. Assistance is not automatic or necessarily a grant. Ask about eligibility, funding, education, repayment or forgiveness terms and what happens if you sell or refinance.
Look beyond the loan payment.
A smaller or simpler plan may leave more room in your budget for everyday life. A maximum preapproval amount is not automatically the right spending target.
For new construction, confirm how taxes and insurance may change when the home is complete. Compare written lender estimates using the same purchase price, down payment and expected closing date.
- Principal and interest, property taxes and homeowners insurance
- Mortgage insurance or program fees where applicable
- Flood insurance or other property-specific requirements
- Utilities, maintenance and a reserve for unexpected expenses
- Down payment, closing costs and prepaid items
- Land, site preparation, drainage, utility connections and driveway
- Plans, engineering, permits, appliances, landscaping and selections
- Construction interest, allowances, exclusions and contingency
Prepare for the lender without sharing private records here.
Provide sensitive documents only through your lender’s secure process. Do not send Social Security numbers, bank or card details, tax returns, passwords or identification documents through the public Better Builders inquiry form.
- Income and employment verification, bank and asset statements
- Identification, credit authorization and information about existing debts
- Land deed or purchase contract, survey and property information
- Plans, specifications, construction contract and complete budget
- Builder documentation, appraisal and insurance information
Match the loan conversation to the project.
Buying a completed home
The lender evaluates the borrower, property, title, insurance, appraisal and program requirements. Confirm the listing’s current price and status before relying on an estimate.
Building a home
Discuss builder review, approved plans, draw inspections, contingency, completion schedule and the transition to permanent financing. Not every lender offers every construction program.
Living in a multifamily property
An owner-occupied duplex, triplex or fourplex is different from a property purchased only for investment. Ask about occupancy, reserves, rental-income treatment and additional underwriting before assuming a loan will work.
Frequently asked questions
Does no down payment mean no money is needed?
Not necessarily. Closing costs, prepaid taxes and insurance, fees, reserves and other property or program requirements can still apply. Ask for a written estimate of total cash to close.
Can Better Builders approve my loan?
No. Better Builders can help organize the project details, but a lender or the applicable agency makes the eligibility and approval decisions.
How do I check USDA eligibility for a specific home?
Use the official USDA eligibility tools and speak with USDA or an approved lender for the relevant program. Income, occupancy, property requirements and underwriting also apply.
What should I compare between lenders?
Compare loan type, interest rate and any lock terms, total monthly payment, mortgage insurance, fees, cash to close, prepayment terms and construction requirements. Ask for explanations in writing.
Start with your home or project details. Keep the loan application with the lender.
Share the location, project type and timing. Do not send confidential financial documents.