Government Home Loans
There are several types of government home loans available today. Among them are HUD, FHA and VA loans. This article will describe the differences between each type and hopefully, will help you to decide if any of the home loans provided by the government are right for you.
The first kind of government home loan that we will discuss is the FHA (Federal Housing Administration) home loan, which is provided by the U. S. Department of Housing and Urban Development (HUD). With this type of loan, a house can be purchased with as little as 3% down payment. To qualify, borrowers must have decent credit and sufficient income.
Another type of government assisted mortgage is the VA home loan. This loan is provided by the Veteran's Administration for those who are currently serving, or have previously served in the armed forces. Benefits of this program are that borrowers can obtain 100 percent financing and are not required to put any money down.
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