Government Loans are great for the first time home buyer with little to no credit. Down payment assistance is offered to borrowers without a large downpayment. Borrowers can also expect to put down less towards the purchase of the property, along with borrow at a lower interest rate.
Veterans Benefits Administration
VA helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. As part of our mission to serve you, we provide a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy.
VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms.
USDA (aka Rural Development Loan)
Standard purchase and rate and term.
A USDA loan (also called a Rural Development Loan) is a government insured home loan that allows you to purchase a home with NO Money Down. USDA Home Loans offer 100% financing to qualified buyers and allow for all closing costs to be either paid for by the seller or financed into the loan. USDA offers some the lowest rates of any loan, and you will always have a fixed interest rate.