Federal Housing Administration (FHA) Loan

Designed to help homebuyers with a low down payment option.

The Federal Housing Administration (FHA) is a government entity that offers
mortgage insurance on loans made by FHA-approved lenders.

The FHA provides insurance on mortgages for many different types of homes including single-family
and multifamily homes. The FHA is completely funded by its own self-generated income, meaning
there is no cost to taxpayers for its operation and services.

These loans are designed to help first-time homebuyers and experienced homeowners alike by
providing them with a low down payment option. FHA mortgage insurance serves as protection
for lenders in the event of a homeowner defaulting on their home loan.

FHA Loans Benefits

FHA insured loans often give potential homeowners the option of making a lower down payment
than they would need to make if using a traditional, non-FHA insured mortgage.

FHA loan benefits include:

Lower down payment
Loan is guaranteed by the government
Less than perfect credit can apply