GOVERNMENT PURCHASE

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Government means those mortgage loans that are insured against loss by default of the borrower by a Government Agency, usually Federal or State. The Governmental Agency does not loan the money. They simply insure the mortgage loan.

As a Government Agency, their goal is usually to help a certain group or specific type of borrower. First time homebuyer's, for example, are usually a primary focus.

The lending guidelines for Government mortgages are set by both the Governmental Agency as well as the particular investor or source of money for the loan. Remember the Golden Rule:

"Those that have the gold make the rules."