what is a VA loan and who qualifies...
A VA loan is a special type of loan for veterans of the US Armed Services, whereby a portion of each loan is guaranteed by the Veterans Administration (VA), which protects the lender's investment if the borrower defaults.
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What is a FHA loan…
An FHA loan allows you to buy a house with as little as 3% down, instead of the higher percentages required to secure many conventional loan which is great for first time buyers, or anyone with a shortage of down payment funds, to buy a home.
The FHA does not make home loans--it insures them. If a home buyer defaults, the lender is paid from the insurance fund. To get an FHA home loan, you'll need to have a good credit history, and sufficient income to qualify for the loan.
for more information on FHA loans.... click here