who do I talk to about the type of loan that would be best for me? There are so many that sound great but which one would be best..Im really considering the usda loan, but I may be over the income restrictions. I need one that doesn't require 20% down. Thank you for any helpful advice!
You're probably looking at a FHA loan, they'll go down to 3.5% even with a mediocre credit score.
Conventional loans also will do less than 20%, but have more hoops to jump through. Stuff like CS, job stablitly, income, and ratios.
Search this forum using keywords, PMI, Debt ratio, downpayment. You'll find enough in a short time to keep you busy. Some of the results might be dated, so note the dates.
Speak to a mortgage lender. Google some and look for reviews. Contact one or two and ask them all the questions you feel like to need some clarification on. They will ask you questions as well. You can do a lot of research of your own as well, here on the forum and also by googling stuff. Thats what we did, we learned mostly everything we know searching online and we feel like we are pretty informed. We are also first time homebuyer hope to buy on a home on a fha loan. I started a thread a couple of months ago to document our progress, but there are other very informative threads on here as well!!