Real Estate Word of Day : government loan (mortgage)
Today’s real estate word of day is going to be government loan.
Government loan is a mortgage that is insured by the FHA or the Federal Housing Administration or guaranteed by the Department of Veteran Affairs, the VA or the Rural Housing Services, the RH s. Mortgages are not government loans are classified as conventional loans, so there’s a distinction between government loans and conventional loans and there’s a difference for them because it’s not necessarily backed by the good faith of the United States government.
There you go. That’s a real estate word of the day.