The United States Department of Veterans Affairs established the VA mortgage loan program to help veterans and their families obtain home financing. VA loans offer up to 100% financing on the home’s value.
A conventional loan is a mortgage loan that is not backed by any government agency and instead follows guidelines established by government-sponsored enterprises (GSE).
An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). FHA loans are designed for low to moderate income borrowers who are unable to make a large down payment.