Mortgages help you finance the purchase of a home, and there are many types of mortgages available. Banks and credit unions are common mortgage lenders; however, they may sell their loans to a federally-sponsored group like Fannie Mae or Freddie Mac if it’s a qualified mortgage.
There are also government-backed loan programs available for certain groups of people, including:
USDA loans for rural, low-income homebuyers.
FHA loans for people with low- to moderate-income levels.
VA loans for active-duty servicemembers and veterans.