Government insured mortgages are a powerful tool for homebuyers looking to secure financing for their dream home. In this guide, we'll explore what government insured mortgages are, how they work, and how to make them work for you.
What are Government Insured Mortgages?
|The Power of Government Insured Mortgages: How to Make Them Work for You
- Federal Housing Administration (FHA) loans: FHA loans are one of the most popular types of government insured mortgages. These loans are designed for first-time homebuyers and people with lower credit scores.
- Veterans Affairs (VA) loans: VA loans are designed for veterans and active-duty military members. These loans offer a number of benefits, including no down payment requirement and no private mortgage insurance (PMI) requirement.
- United States Department of Agriculture (USDA) loans:
USDA loans are designed for people living in rural areas. These loans offer low interest rates and no down payment requirement.