Government Mortgage Loans

FHA Government Loan – Within the government’s Housing and Urban Development (HUD) program operates the Federal Housing Administration (FHA), which has the primary responsibility for administering the government home loan insurance program. This program allows a first time home buyer who might otherwise not qualify for a home loan to obtain one because the risk is removed from the lender by FHA who insures the loan for the lender. The credit qualifying criteria for a borrower are not as strict as conventional loan financing and the down payment or Equity requirements are less. There are many reasons why an FHA loan might be right for you … [Read More]

VA Government Loan – The VA loan was designed to offer long-term financing to American veterans or their surviving spouses. A VA loan is guaranteed by the U.S. Department of Veterans Affairs. The loan may be issued by qualified lenders and allows veterans 100% financing without private mortgage insurance or 20% second mortgage. Here you’ll find long-term insurance-free VA home loans that are guaranteed by the United States Veterans Administration. EMG Mortgage offers affordable, easy-to-understand … [Read More]

USDA Government Loans – Purpose: Section 502 loans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

Eligibility: Applicants for direct loans from HCFP must have very low or low incomes. Very low income is defined as below 50 percent of the area … [Read More]