Government Home Loans
Government home loans such as those sponsored by institutions like the Federal Housing Administration (FHA) or the Veterans Administration (VA) offer those who are seeking home ownership a chance to buy into the market. Government home loans are a good medium for first-time buyers with low-to moderate-income, with limited cash available for a down payment, and for those who have minor credit problems. These government sponsered loan programs offer a low down payment option, and interest rates are usually below market!
FHA Loans
An FHA sponsers government home loans insured by the Federal Housing
Administration and is open to all qualified home purchasers. There are limits
to the size of FHA loans, but generaly are enough to handle modereately priced
housing most anywhere in the country..
Veteran Affairs (VA) Loans
A VA loan is simply a loan made by an approved lender that is guaranteed by
the Department of Veterans Affairs. All veterans, and those currently serving
in the military, qualify for a VA loan. VA loans usually have a lower than
normal down payment option.
HUD
Government home loans from the Department of Housing and Urban Development
are properties that are sold at reduced prices. These properties usually are
fixer uppers. HUD homes are sold by real estate brokers in your area who are
authorized to sell HUD homes, of which most are. Make a bid on a property
and your broker will submit it for you.
Government Home Loans
