All three of these loan types offer flexible financing options. VA loans differ in that they’re insured by the U.S. Department of Veterans Affairs, so lenders don’t need you to meet the strict qualification requirements of a conventional loan. With the stricter qualifications of conventional loans also comes benefits for those with higher credit scores. FHA loans are also backed by the government and provide options for those with lower credit scores, while offering competitive interest rates and down payment options. However VA loans provide additional benefits that make them one of the best financing programs, including no down payment, no mortgage insurance, low interest rates, and low minimum credit requirements.