 Sam
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Joined: 21 May 2005
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Location: CALIFORNIA
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 Posted: Thu Apr 08, 2004 4:33 am Post subject: Government Mortgage |
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Government mortgages include the following category of mortgage loans:
- The mortgages guaranteed by the Department of Veterans Affairs (VA loans):
The VA loans are specially meant for the U.S veterans and service persons. A part of these loans is insured by the Veterans Affairs in case of any default by the borrower. generally VA loans are long term fixed rate mortgages.
- Mortgages insured by the Rural housing Service:
The Rural Housing Service (RHS) included within the US Department of Agriculture, guarantees loans for low income borrowers. Loans offered by the RHS do not require mortgage insurance or down payments.
- Mortgages insured by the Federal Housing Administration (FHA loans):
The Federal Housing Administration (FHA) is a part of the US Department of Housing and Urban Development. This federal agency insures various kinds of mortgages including those which require low down payment.
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