Government loans are subsidized by the U.S. government. allowing lenders to make home-ownership possible for those who may not fit the requirements for a conventional mortgage. FHA and VA loans may be the perfect solution for first-time home-owners and individuals who have lower credit scores and higher debt-to-income ratios. With low (and no) down payment options available, government loans have made home ownership easier and more affordable than ever.
A Home Equity Conversion Mortgage (HECM) is a reverse mortgage insured by FHA, available to homeowners 62 and older. A HECM may help homeowners achieve their retirement goals and improve their cash-flow, by accessing the equity in their home, without having to make monthly mortgage payments.
