When it comes to growing your mortgage business, one of the most effective methods for maximizing your reach and building your member base is offering a diverse selection of loan products. After all, a mortgage is not a one-size-fits-all commodity, so it's important to have what potential borrowers need in order to gain their business.

While conventional loans have always been a popular choice, government loan options open the door to reaching even more potential homebuyers credit unions may be missing. Government loans are especially prevalent among the first-time homebuyer population and with individuals who may not have pristine credit but still desire owning a home of their own. In fact, according to Brian Buffini's 2019 1st Biannual Real Estate Report, 30% of all buyers and 40% of first-time buyers choose a government loan (FHA or VA).