This loan is not used very often, since it is only available in very specific areas.
VA helps Service members, Veterans, and eligible surviving spouses become homeowners.
For this loan a high credit score is required along with a much larger downpayment. This loan is not secured by the government and always requires private mortgage insurance.
This Mortgage Option is for the people who want a fixer-upper and dont want to do the work needed! No downpayment assistance allowed and always requires a large downpayment.
This type of loan is for people who have lower credit scores with minimal funds for downpayment.