Which term is associated with lending that is backed by government guarantees?

The term associated with lending that is backed by government guarantees is "government-backed loan." This type of loan is specifically designed to provide lenders with a safety net, thereby encouraging them to lend to borrowers who might otherwise be considered higher risk or who might not qualify for conventional financing.

Government-backed loans are typically offered by federal agencies such as the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), and the United States Department of Agriculture (USDA). By guaranteeing portions of the loans, these agencies help lower the barriers for potential homeowners, making it easier for individuals to obtain mortgages, especially those with lower credit scores or smaller down payments.

In contrast, a conventional loan is not backed by any government guarantee or insurance, which typically makes them riskier for lenders and can result in stricter qualifications for borrowers. A private loan, on the other hand, refers to loans that are issued by private lenders or institutions, which also do not have government guarantees. Lastly, the term "contingency" generally refers to specific conditions that must be met for a contract to be fulfilled and is not relevant to the context of government programs related to lending.