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FHA Loans


An FHA loan is a type of government-backed mortgage insured by the Federal Housing Administration, a branch of the U.S. Department of Housing and Urban Development, or HUD. FHA loans are popular with first-time homebuyers because they allow for down payments as low as 3.5% and they have more flexible credit score requirements. Because of an FHA loans’ more lenient lending standards, they require a lifetime mortgage insurance premium.

  • 30-year, 25-year, 20-year, 15-year, and 10-year terms available
  • Adjustable rate mortgages allowed
  • Minimum down payment: 3.5%
  • Single family and 2-4 units acceptable
  • Primary residence only
  • Grants and gifts permitted from suitable sourcesd
  • Non-occupant co-borrower can be used for qualifying
  • Flexible or no credit scores
  • 2 years post-bankruptcy
  • 3 years post-foreclosure
  • Government sponsored down payment assistance
  • Common sense underwriting
  • Seller concessions up to 6%
  • 203K Rehab loans
  • Loans can be assumable
  • Maximum loan amounts are restricted by geographical area
  • Reduced monthly mortgage insurance
  • Purchase or refinance