Government home loans

Government home loans allow people to receive financial assistance toward the purchase of a house when saving money is not a possibility. FHA funding from the Federal Housing Administration or assistance from the VA or Veteran Administration are just a few of the programs that consumers can seek. Both government home loan programs are guaranteed by the federal government. The FHA funding is sponsored by the US Department of Housing Urban and Development. It is primarily used for first time buyers; however variations have recently been added to allow more flexibility. The FHA program was established in the mid 1900's as a way to allow low to moderate income families the opportunity to purchase a house.