FHA Loans

These really are fixed and adjustable rate loans secured by the government up to certain loan limits. For example, right now, the VA loan limit is $417,000.

Lenders like these loans because the government insures them. So, in addition to having the home as collateral, the lenders have added protection against default.

This helps the lenders and it helps you. If you qualify for a government backed loan, it could help you get a lower rate, put down a lower down payment, and even get you a loan you couldn’t get outside of the government system.

Steve Wyrostek -HomeLoans.org Expert A 20 year plus veteran of the insurance industry, Steve managed departments in the personal and commercial lines areas of major insurers. He’s familiar with how insurance—ranging from boat to workers compensation—works.