A mortgage not insured or guaranteed by the government & must adhere to conservative Fannie Mae and Freddie Mac guidelines.
A mortgage insured by the Federal government. FHA has fairly lenient guidelines which is why many first-time homebuyers choose this program.
A mortgage guaranteed by the U.S. Department of Veterans Affair (VA). Active military who meet minimum service period, Veterans who meet length of service requirements, and surviving spouses that meet certain conditions can qualify for a VA loan.
A mortgage guaranteed by the USDA. The home to be purchased must be located in an eligible rural area defined by the USDA.