Loan Types Explained: VA, FHA, Conventional & 0% Down Options | Home Buying in Fort Bragg, NC

Stop telling yourself "no" before you even explore your home buying options. In Part 2 of Real Estate Real Talk, I'm joined by Casey Whealton from American Security Mortgage to break down the most common loan types and help you understand which one might be right for YOUR situation.
Whether you're active duty military, a first-time buyer, or someone who's been renting for years and ready to build equity—there's likely a loan product designed specifically for you.
🎯 WHAT WE COVER IN THIS VIDEO:
✅ VA Loans: Benefits, requirements, and what closing costs you actually need to pay
✅ Community Opportunity Loan: NEW 0% down option for NON-veterans (this is huge!)
✅ FHA Loans: How parents can co-sign and help their kids buy homes
✅ Conventional Loans: When they become the most cost-effective option
✅ Down payment assistance programs ($15K at 0% interest!)
✅ Why you should explore your options even if you think you "can't afford it"

💰 LOAN TYPE BREAKDOWN:

VA LOANS (Active Duty, Veterans, Qualifying Surviving Spouses):

0% down payment required
No monthly mortgage insurance (PMI)
More lenient credit score requirements
Higher debt-to-income ratios accepted
VA funding fee applies (can be financed unless disabled veteran, Purple Heart recipient, or surviving spouse)
Closing costs DO exist beyond funding fee and cannot be financed (but can potentially be negotiated with seller)
Designed to be the most cost-effective option for those who qualify

COMMUNITY OPPORTUNITY LOAN (NON-VETERANS!):

0% down payment
NO mortgage insurance at all (not upfront, not monthly)
Competitive interest rates
Designed for homes in underserved areas (over 50% minority population OR below area median income)
OR for buyers whose income is below area median income
Can be combined with $15,000 down payment assistance at 0% interest (forgiven after 5 years)
You don't have to be a first-time buyer—you just can't own another home at closing
Creates the lowest monthly payment option when comparing products

FHA LOANS:

3.5% down payment
Allows non-occupying co-signers (perfect for parents helping adult children)
More flexible credit requirements
Competitive interest rates
Government-insured loan product designed to open homeownership to more people
More lenient guidelines overall

CONVENTIONAL LOANS:

As little as 3% down payment
Most lenient appraisal requirements (property condition)
No PMI if you put 20% down
15% or 20% down can make this the most cost-effective option
The original loan type—still going strong

📍 WHO THIS VIDEO IS FOR:

-Military families relocating to Fort Liberty who want to understand VA loan benefits
-First-time home buyers who think they can't afford to buy yet
-Renters tired of "throwing money away" and ready to build equity
-Families looking to upsize and explore financing options
-Parents who want to help their adult children buy homes
-Anyone who's been told "no" and wants to understand their real options
-Non-veterans interested in 0% down loan programs

💡 KEY TAKEAWAYS:
You don't know what you don't know. Many people tell themselves "I can't afford to buy a home" without ever having the conversation or exploring their options. The truth is, there are more loan products available than most people realize—including 0% down options for NON-veterans.
It's never a hard "no"—it's just a "not right now." If you're not quite ready today, we can create a credit improvement plan to get you there in 3-12 months.

👥 ABOUT CASEY WHEALTON:
Casey has 18 years of mortgage lending experience in Fayetteville, NC. She specializes in finding creative solutions to help people achieve homeownership and provides free, no-obligation credit improvement plans.

🏡 ABOUT MEGAN SHOFF - THE TRANSPARENT REALTOR:
I help first-time home buyers, military families, and growing families in Fort Bragg, NC achieve their real estate goals through transparent guidance, education, and genuine care. My mission is to remove the mystery from buying and selling real estate so you feel empowered to make confident decisions.

📞 READY TO EXPLORE YOUR OPTIONS?
Reach out to me directly. Whether you have questions about loan types, want to understand what you qualify for, or you're ready to start your home search—I'm here to provide transparent guidance with no pressure.

💬 HAVE QUESTIONS?
Drop them in the comments! Your questions help me create content that actually serves you. If there's a loan type or topic we didn't cover that you'd like to know about, let me know.

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Megan Shoff
NCBRE#: 336770
614-202-3244
[email protected]

Each Keller Williams is Independently Owned and Operated

Casey Whealton is with the License to Lend Team powered by American Security Mortgage
NMLS #109935
Company NMLS#40561
American Security Mortgage is an equal housing opportunity lender