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Government-Backed Loans

You may want to explore government-backed loans. These loans are insured by government agencies, and there are three types: FHA, VA, and USDA loans.

Because the government insures these loans, they are less risky for lenders, making it easier for you to qualify for a loan even if you can’t get a conventional loan. However, each government-backed loan has specific criteria that you must meet to qualify, and they also offer unique benefits.

If you meet the criteria for a government-backed loan, you may be able to save on interest or down payment requirements, depending on your eligibility.


- Lower down payment requirements
- Lower credit score requirements
- Competitive interest rates
- Flexible qualifying criteria


- More paperwork
- Mortgage insurance premiums
- Limited eligibility
- Property restrictions