Which type of loan should I get?

[Trevor Grogitsky]

Looking into buying my first house, it's listed at 40,000 with an estimated value of 96,000. I don't know if a conventional loan, an FHA, or some other loan option might be best for me here, I have even debating asking my grandparents for the whole asking price. I would love to know what you all would suggest, or even what my best three options might be.