Government mortgage

Any loan that is guaranteed by the government

Government loans are easier to qualify for since they normally require a fraction of the down payment needed for non-government loans - in some cases no down payment is needed at all. Government agencies, such as the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA) only insure loans. This means if you default on the loan, the government will pay the lender part or all of the money that is owed on the home, making the loan less risky for lenders.

See: FHA mortgage, VA loan
Compare: Conventional loans