FHA Loan

This is an image of a young man and his father talking on the couch of his new home.

An FHA loan is a mortgage loan insured by the Federal Housing Administration (FHA). These loans are designed to provide individuals with low-to-moderate income the opportunity to own a home.

FHA loans have smaller loan limits and accept lower credit scores compared to a conventional mortgage. However, borrowers are required to pay a mortgage insurance premium (MIP) on the loan, and the property must be appraised by an FHA-approved appraiser.

FHA Loans Offer:

  • Low down payments, lower than most conventional loans
  • Lower credit score requirements
  • No prepayment penalties

FHA Loans are Ideal for:

  • First-time home buyers
  • Individuals with limited credit history
  • Individuals buying a home within the maximum FHA loan limits

If you're looking to purchase a home and wondering if an FHA loan is the best option for you, we can help. Click the link below to contact our mortgage department.

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