FHA Loans

FHA mortgage loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.

FHA insured loans will require mortgage insurance which protect lenders against losses that result from defaults on home mortgages. These types of loan allow for higher loan to value.

FHA Loans typically require only 3.50% down payment, and will allow for a higher debt to income ratio.
We also have the $100 down payment FHA programs.

With regards to credit, the FHA programs that we will allow for credit scores as low as 580.  This makes it easier to qualify for this type of loan.

FHA loans are an attractive option, especially for first-time homeowners:

• Generally easier to qualify for than conventional loans.
• Lower down payment requirements.
• Cannot exceed statutory loan limits.

Learn more about FHA loans. (Department of Housing and Urban Development)