If you're considering buying or refinancing a home, I would check into FHA mortgages before making a decision on another loan offer.  FHA loans require much smaller downpayments typically.  They are also available to individuals with less than perfect credit.  Both of these make FHA loans a very popular option in today's market where credit is tight.

There are FHA loan limits on the amount that you can borrow for a one-, two-, three-, or four-unit property.  These limits differ in each state by county, borough (Alaska), or parish (Louisiana).  So check to see if the amount you need to borrower for home you are purchasing (or refinancing) is less that the loan limit for the area where the property is located.