Exactly how Try a Va Mortgage Unlike Almost every other Regulators-Supported Mortgage loans?
Generally speaking, consumers which purchased their property after 1990 will not have so you can pay back the federal government when they foreclose to your home.
A good Virtual assistant mortgage differs from almost every other regulators-supported mortgage loans, such an FHA financing or USDA financing, in a few different ways. Eg Va funds, FHA and you can USDA funds is actually guaranteed by the federal government – often the Federal Casing Administration and/or You.S. Service of Agriculture.
The main difference between Va finance and you may FHA loans is the fact FHA money constantly require a debtor to get home loan insurance rates.
