They both promote home ownership for primary use since they make qualifying easier and offer a lower down payment.

If you have to ask you shouldn't be getting your license. This is beyond basic.

Low money down loans, back end ratios a little higher so more people qualify.

For real estate, they offer loan programs that enable certain people to purchase homes who may not be able to with conventional financing.

Lyn Sims has it....

If you are an agent, you should know this answer. If you are a student, you should ask for your money back as they are not teaching you. This is real estate agent class 101, 2nd day class question. 

abby tiscareno FHA provides insurance for low down payments and the VA guarantees loans with 100% financing.

Abby,

Lyn Sims said it perfectly!

They allow people to buy a house with low or no money down. FHA borrowers also can have tighter credit ratios.

It's all about low money down and insuring the loans...

What Joe Pryor said.

abby tiscareno good loan products with virtually nothing down! Buyers with no down payment can buy the home.

They allow buyers to get into homes with low to zero downpayments.

They enable more people to move into home ownership.

Many people can't afford to purchase a home unless they use an FHA or VA mortgage which require low (or no) down payments and have better % interest.

Lyn Sims has the proper answer.

Both FHA and VA financing make housing affordable for people who have decent credit, a good work history and income, but don't have much in the way of funds for a down payment.

I'd say Lyn Sims made it clear.

Alternative financing to those who do not quality for a conventional loan.

Both offer financing options for buyer who may otherwise not be able to purchase a home. FHA low down payments and VA loans for veterans. 

Lyn has answered.

Virginia is one of the 50 states in the USA, right beside Washington, DC, and where many US federal employees live and tourists visit.

The Fraser Health Authority is one of six publicly funded health care regions in British Columbia and provides important health services to residents of our great nation who live in that part of our beautiful country.

Just a few more lending programs

FHA and VA programs are good choices for many home buyers.

More liberal qualifying requirements.

Assignment of traditional costs to seller.

Often with very little money down.

VA or FHA is often the ONLY financing option for first time buyers. (the industry definition)

Affordable Loan Packages

For those answering something like:

"If you have to ask you shouldn't be getting your license. This is beyond basic."

Shame on you.  I am assuming they are a student and not looking for smart ass comments, but only doing as they ask.  Some online schools want students to reach out and see the varying answers and get multiple take on things.  Thanks to those who actually answered instead of wasting time with a troll post.

I couldn't have said it better than Christina Hayes . Good luck with your studies. 

Joe Pryor makes a valid point. This is a basic loan product. Many buyers have less than the normal 20% down on a Conventional mortgage. Therefore we have FHA with only 3.5% down,VA with No Money Down,as well as USDA that can do 100% finance. Do the math. On a $250,000. home the 20 % down is $50,000. plus closing costs. Not too many people can write a check for $50-60,000 today,so these government deals are perfect. A survey was done where they asked millennials if they could write a check for $1,000. 67% said they could  not.

Loan program option for buyers who have been in the military or have limited funds for downpayment. 

Tony Lewis  nailed this one!

They turn renters into home owners

Allows many peoole to buy a home sooner than they could have because of down payment and income.

What Tony Lewis said.