The three main types of mortgage loans are:

1. Conventional Mortgage: This is a traditional mortgage loan that is not insured or guaranteed by the government. It typically requires a higher credit score and a larger down payment compared to government-backed loans. Conventional loans usually have fixed interest rates, although some lenders may offer adjustable rates as well.
2. FHA Mortgage: This is a government-backed mortgage insured by the Federal Housing Administration (FHA). It is designed to help lower-income and first-time homebuyers who may not qualify for a conventional loan. FHA loans require a lower down payment and have more flexible credit score requirements than conventional loans. However, they also require borrowers to pay mortgage insurance premiums.
3. VA Mortgage: This is a government-backed mortgage guaranteed by the Department of Veterans Affairs (VA). It is designed for active-duty service members, veterans, and eligible surviving spouses. VA loans typically require no down payment and have more flexible credit score and income requirements than conventional loans. However, they may have some additional eligibility requirements, and borrowers may need to pay a funding fee.