FHA – Federal Housing Administration – Loans FHA - Federal Housing Administration - Loans are government loans insured and backed by the Federal Housing Administration. Where USDA loans have to be used for purchases in rural areas outside major cities, FHA loans can be used for purchasing in the heart of the city or in rural areas. When applying for an FHA loan, the lender will take your proof of income and past tax returns and determine how much you have coming in before tax

USDA LOAN PROGRAM USDA – United States Department of Agriculture – Loans A lot of mortgage companies have these type of loans backed by the government and secured by the United States Department of Agriculture. This is not a first-time homebuyer program. Anyone who qualifies can use these type of loans as long as you do not currently own a house. Therefore, this would not be a loan program that you could use to purchase rental, investment, vacation, or a second home. It i