For more than twenty years BD Nationwide has been connecting consumers with lenders that provide a wide variety of government mortgage loans.

Compare Government Mortgage Loans

When the mortgage industry crashed a few years ago, lenders, brokers and borrowers turned to government mortgage programs like VA and FHA loans. In these tough economic times, Americans have turned to government mortgages more than conventional or private money lenders.

Consider FHA and VA Home Loans

As the housing crisis continues the Federal government has doubled down on backing affordable mortgage programs in an effort to help more Americans with homeownership. BD Nationwide will help you shop for the best FHA mortgage rates online.

Get Approved for a Record Low Government Mortgage Rate

Over the last few years, millions of American consumers have come to depend on Federal mortgages for home buying and refinancing. Government financing is more popular than ever because they are accessible with low rates on government mortgages. Talk with a friendly loan consultants today that specialize in government mortgage programs.

Federal Housing Administration
Fannie Mae
Freddie Mac
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VA Loans

New Government Loans for Home Buying and Refinancing

Government mortgage rates have dropped to historic levels in recent years and millions have Americans have been able to take advantage of government insured loans with the FHA and VA loan programs.

VA home loans are government mortgage options that are guaranteed for military borrowers. For VA mortgages you must meet the VA eligibility requirements. Basically you need to be active in the military or veteran. Military borrowers have a significant financing advantage because VA guidelines require no down-payment for home buying and no equity for VA borrowers refinancing. As many people have recently learned, 100% refinancing and no money down loan are scarce in the United States.

Unlike the VA program, with FHA you do not need any military or government affiliation to qualify for a FHA loan product. FHA mortgages are similar to conventional loans, but with FHA, the government insures the loans. FHA does not make government home loans, but they do insure them. This enables loan companies to become approved for FHA lending so you do not have to actually go to the government for processing your loan. FHA refinancing is more attainable for the average homeowner than conventional lending today.

VA Home Mortgage Loans Military home buyers can buy a home with zero down.	VA Military Debt-Consolidation Loans Consolidate debt with VA Refinancing
Military Home Refinancing Loans VA rates are so low that borrowers are saving real money!	VA Streamline Refinance If you already have a VA mortgage, you can streamline any time the interest rates drop.
VA Refinance 100% refinancing means the VA borrowers can refinance with no equity.	VA Home Loan FAQ Learn more about VA home buying and government mortgages

Compare Government Home Loans with Low Interest Rates

FHA guidelines are lenient with credit and most FHA loan programs will approve borrowers with bad credit scores. FHA has been popular with first time homebuyers for decades because the down-payment requirements are significantly less than with conventional and subprime lending. People buying a FHA no down-payment for home buying and no equity for VA borrowers refinancing. As many people have recently learned, 100% refinancing and no money down loan programs are scarce in the United States.

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5 Top Reasons to Get a Government Mortgage Loan

Government-backed mortgage loans offer a path to homeownership for millions of Americans, providing benefits that are often unavailable through conventional loans. Whether you’re a first-time homebuyer, a veteran, or someone with a limited credit history, government mortgage loans can offer financial advantages that make buying a home more affordable and accessible. Here are five top reasons to consider getting a government mortgage loan.

1. Lower Down Payment Requirements

One of the biggest hurdles to homeownership is coming up with a sizable down payment. Conventional loans typically require a 20% down payment to avoid private mortgage insurance (PMI), which can be a significant barrier for many buyers. However, government mortgage loans often allow for much smaller down payments, making it easier to purchase a home.

FHA Home Loans: Backed by the Federal Housing Administration (FHA), these loans require as little as a 3.5% down payment for borrowers with a credit score of 580 or higher. Even borrowers with a credit score as low as 500 can qualify with a 10% down payment.
VA Home Loans: For eligible veterans, active-duty service members, and certain surviving spouses, the VA loan program offers the benefit of no down payment. This makes it one of the most affordable mortgage options for those who qualify.
USDA Home Loans: The U.S. Department of Agriculture (USDA) also offers loans with no down payment for eligible buyers in rural and suburban areas. These loans are designed to help low- to moderate-income borrowers become homeowners in designated areas.

2. Easier Credit Qualification

Many government-backed loans are designed to help borrowers with less-than-perfect credit qualify for a mortgage. Conventional loans often require a higher credit score to secure favorable terms, but government loans offer more flexible credit criteria.

FHA: FHA loans are known for their lenient credit requirements. Borrowers with credit scores as low as 580 can qualify with a 3.5% down payment, and those with scores between 500 and 579 can still get approved with a higher down payment.
VA: While the Department of Veterans Affairs doesn’t set a minimum credit score for VA loans, most lenders typically require a score of 620 or higher. However, some lenders may be willing to work with borrowers with lower scores, especially if they have other compensating factors such as a stable income.
USDA: USDA loans also offer flexible credit requirements, often allowing borrowers with credit scores as low as 640 to qualify.

The relaxed credit criteria of government mortgage loans make homeownership more attainable for individuals who may struggle to meet the stringent requirements of conventional loans.

3. Lower Government Mortgage Interest Rates

Government-backed loans tend to have lower interest rates than conventional loans. Because these loans are backed by federal agencies, lenders assume less risk, which allows them to offer more competitive interest rates.

FHA, VA, and USDA Mortgages: All three types of government loans often come with interest rates that are lower than those on conventional loans. Lower interest rates mean more affordable monthly mortgage payments, which can make a significant difference in your ability to manage the costs of homeownership over time.

This makes government-backed loans a great option for those looking to secure a lower monthly payment or save money on interest over the life of the loan.

4. No Private Mortgage Insurance (PMI) for VA Loans

For many homebuyers, one of the drawbacks of conventional loans is the requirement to pay private mortgage insurance (PMI) if the down payment is less than 20%. PMI can add a substantial cost to your monthly mortgage payment and lasts until you build up 20% equity in your home.

However, VA loans come with no PMI requirement, even if you make no down payment. This is a major financial benefit for veterans and service members, as it reduces the overall cost of owning a home. While FHA and USDA loans do have their own mortgage insurance premiums, VA loans stand out as the only government-backed loan that doesn’t require this added expense.

5. Special Government Programs for First-Time Homebuyers

Government-backed loans, especially FHA loans, are often tailored to meet the needs of first-time homebuyers. Many of these loans come with special programs that make it easier for first-time buyers to afford a home.

First-Time Buyer Assistance: FHA loans, for example, allow the use of gift funds from family members or grants from down payment assistance programs to cover the down payment or closing costs. This flexibility makes it easier for first-time buyers to overcome the initial financial hurdles of homeownership.
FHA 203(k) Loan: The FHA also offers a special loan program called the 203(k) loan, which allows buyers to finance both the purchase price of a home and the cost of repairs or renovations in a single mortgage. This is ideal for first-time buyers who are looking to purchase a fixer-upper and need help financing the necessary improvements.

Government mortgage loans offer numerous advantages that make homeownership more accessible, especially for individuals who might struggle to qualify for conventional loans. Whether you’re looking for a lower down payment, flexible credit requirements, or the ability to avoid mortgage insurance, government loans provide a range of benefits tailored to different types of buyers. By taking advantage of these programs, you can find a path to homeownership that fits your financial situation and long-term goals.

More FHA Loan Pages
New Homebuyer FHA Mortgage Loans This is the most popular government mortgage because borrowers only need 3.5% down to buy a home.	Jumbo FHA Mortgage Loan People in high cost regions may need loan amounts that exceed the FHA loan limits.
FHA First Time Homebuyer Loans Buying a home can be stressful. FHA takes off some pressure with their home loan for first time home buyers.	FHA Mortgage Rate Refinance When a borrower needs to refinance their home without cash, we call it a rate and term refinance.
FHA Home Reverse Mortgage Loans Seniors can get cash back with HECM’s.	FHA Bad Credit Refinancing Refinance with credit scores as low as 500.
FHA Streamline Refinance Borrowers with existing FHA loans can get a quick refinance if the FHA rates drop.	FHA Government Mortgage Refinance Government refinancing has its perks like no equity, low interest rates and lenient credit requirements.
203K FHA Home Improvement Loans This government mortgage enables borrowers to get cash for home rehabilitation and energy efficient initiatives.