Government Home Loans And More: A Guide For First-Time Borrowers

Jul 24, 2024

9-minute read

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A street of well constructed brick houses.

Certain circumstances can make it difficult for some people to qualify for conventional mortgages. Government-insured home loans exist for this reason – so borrowers who need funding can achieve their homeownership goals.

Government home loans are often more affordable, have lower interest rates, and are usually easier to qualify for than personal or conventional loans. We’ve created a short guide to everything you need to know about the most popular government-backed mortgage loans available.

What Are Government Mortgage Loans?

Government mortgage loans are insured or backed by the U.S. federal government. There are many types of government home loans as well as government loans for college education, disaster relief, opening a business and supporting veterans. Government-backed mortgages help all types of home buyers purchase their dream home.