WHAT IS A GOVERNMENT LOAN?

FHA, USDA, VA ... What?

A government-backed mortgage is typically referred to by the initials of the sponsoring government body. The three types are: Federal Housing Administration (FHA), U.S. Department of Agriculture (USDA), and the Department of Veterans Affairs (VA).

Family standing on porch of rural home in the winter

UNIQUE REQUIREMENTS

How Do They Work?

Government-backed mortgage loans are insured by a Federal agency, protecting the lender (radius) in the event that the borrower can't repay the debt. Because of this, we're able to offer lower interest rates than some other loan programs, as well as low down payment requirements. Some as low as 3.5 percent!

Woman in wheelchair meeting with loan officer

WHAT MAKES THEM DIFFERENT?

Different Requirements

Because these loans are insured by government agencies, there are different eligibility requirements and cost structures. For example: USDA loans are for people buying a home in an eligible rural area and VA loans are reserved for military personnel and their families. For a full breakdown of requirements and costs, reach out to one of our Loan Officers.

Connect with a Loan Officer for Specifics →
Happy couple sitting on front porch

Our Process

One of our experienced loan officers will help you decide what type of loan best suits your unique situation. The loan officer will discuss the loan process and paperwork needed to secure the loan.

Next, your loan will move into processing. One of our loan analysts will make sure all the paperwork provided is thorough and correct for the loan program.

Next, your loan proceeds to underwriting for a final decision on approving your home loan. Our in-house underwriting team will review all of your documents to ensure all conditions are satisfied. If we need something else, your loan analyst or loan officer will reach out.

Navigating the First-Time Home-Buying Process

Want to learn more about the homebuying process?

It’s important to understand the facts and the myths about the home-buying process and realize that there is no one-size-fits-all approach to getting approved for a mortgage loan.

Get the Guide

radius is here to help you

We're licensed in many states across the United States, but loan programs vary from state to state; so talking to a loan officer licensed in your planned state of purchase is a must.

 

Our Loan Officers

What our customers are saying

“

Radius has been great in making sure I get the best rates, and extremely helpful in providing information and answering my questions.

Scott C
Refinance Customer
“

Everything went smoothly and according to plan. My questions were answered in a timely manner and in language I could understand.

Valarie O
Refinance Customer
“

I found everyone to be very responsive and helpful. Everyone took the time to answer all our questions and concerns.

Rachel A
Purchase Customer

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