Definition: The term "which mortgage loans are guaranteed by the federal government" refers to a type of mortgage loan in which a lender guarantees repayment of the loan, typically with interest only. This means that if the borrower defaults on their payment, the lender will not have any recourse against the property or the borrower's credit score. To be eligible for this type of loan, the borrower must meet certain requirements, such as providing a credit history and paying off all debts, and may also need to agree to certain terms and conditions. The federal government provides the mortgage loans that are guaranteed by it, which includes FHA-insured loans for first-time homebuyers, as well as VA-backed and USDA-Home Affordable payments. This type of loan is often used in situations where borrowers have limited or no credit history, such as those who have been evicted from their homes. It can also be a good option for borrowers whose property values are decreasing due to economic downturns. The word "which mortgage loans are guaranteed by the federal government" reflects the fact that these loans are not available only to private lenders and cannot be obtained by individuals without adequate credit history or collateral.

which mortgage loans are guaranteed by the federal government