What is it?
FHA is a Government-Backed Loan.
The Federal Housing Administration (FHA) which is part of HUD insures the loan. FHA loans have been helping people become homeowners since 1934.
An FHA mortgage may be right for you if
Your credit does not meet the requirements for a conventional loan.
If you have limited cash for a down payment
Allow you to get into a home with a minimum down payment of 3.5% of the purchase price.
Allow you to purchase a 1-4 unit property, you must live in one of the units and can rent out the other unit(s).
Come in 15- and 30-year options.