You’ve got your savings plan rolling. You’re tracking your budget. Now it’s time to tackle one of the biggest financial decisions of your life: choosing a mortgage. Understanding your loan options — and how they impact your upfront costs, monthly payments, and long-term flexibility — is key to buying smart.

This article breaks down the four most common types of home loans for first-time buyers: Conventional, FHA, VA, and USDA. We’ll also cover what lenders look at, how to qualify, and which loan might make the most sense for your situation.