1.         Federal Housing Administration (FHA) insured loans: Lenders offer FHA mortgages on a new or existing single-family home for as little as 3 percent down. FHA mortgages are also assumable by the buyer when the original owner is selling the house. Sometimes a premium is required when the mortgage is assumed, then refunded when the note is paid off. Down payments are usually low.

        2.         Veterans Administration (VA) guaranteed loans: The Veterans Administration guarantees lenders against loss if a property is foreclosed due to default. These assumable loans are available to eligible veterans and may be used to buy, refinance, construct or repair a house. If the VA property appraisal is less than the sale price, the borrower pays the difference as a down payment.

        3.         Farmers Home Administration (FmHA) loans: The government makes these loans available to persons of moderate to very low income in rural or non-metropolitan areas.