What are the different types of home loans offered by First Horizon?

First Horizon Home Loans offers a variety of loan options to cater to different homebuyers' needs. We provide conventional loans, which are ideal for those with good credit and a stable income. This loan type typically requires a down payment of at least 3%. For those seeking a government-backed loan, we offer FHA loans. These loans are backed by the Federal Housing Administration and can be suitable for first-time buyers or those with lower credit scores. If you are a military veteran, our VA loans provide attractive options with no down payment requirement. For rural homeowners or homebuyers, we offer USDA loans, which are backed by the United States Department of Agriculture. Finally, for homebuyers considering building their dream home, our construction loans provide financing during the construction phase and then seamlessly convert into a permanent mortgage. With this range of loan options, First Horizon Home Loans aims to assist individuals in finding the right mortgage tailored to their unique circumstances and homeownership goals.