The Department of Housing and Urban Development in Washington. Madalina Kilroy/The Epoch TimesFederal government agencies issue government-backed loans. The government isn’t actually loaning you money to buy a home; it sponsors the programs available. It’s still up to you to find a mortgage lender to access these programs.Besides government loans, there are private conventional loans. But which are easier to qualify for? According to the Federal Reserve Bank of New York, more than 20 percent of mortgage applicants have been rejected. Knowing which type of loan to apply for could keep you from being one of the 20 percent.How Conventional Loans WorkConventional loans are held by groups such as banks, credit unions, and savings and loan associations. Homebuyers can qualify for a loan from any of these institutions or work with a mortgage broker that writes the loan and then sells it to another institution.
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Friday, July 24, 2026
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