FHA LOANS

Home loans provided by the Federal Housing Administration (FHA) may make it easier for you to buy a home. For an FHA loan a down payment of 3.5% is required. Borrowers who cannot afford a traditional down payment of 20% or are unable to receive approval for private mortgage insurance may consider an FHA loan.

FHA Loans and Why You Would Use One

Benefits of an FHA Loan

  • Strong pricing with lower rates than Conventional Loans.

  • More suitable for individuals with less than great credit.

  • 3.5% down payment required.

  • Loan eligibility down to a 500-credit score (500-579 credit requires 10% down).

  • More lenient debt-to-income ratio requirements than other loans.