FHA Loans


Here's what makes FHA home loans special:

  • Government-Backed: The FHA is part of the government, and they promise to help the bank if there are any problems. This makes the bank more comfortable lending you money.
  • Lower Down Payment: Many loans require you to pay a big chunk of the house's price upfront.  With an FHA loan you only need to put down 3.5% of the home's price 
  • Friendly Credit Requirements: Some people have trouble getting loans because of their credit history. But FHA loans have more forgiving requirements. This means that even if you've had some financial difficulties in the past, you might still be able to get this loan.
  • Property Standards: The house you're buying must meet certain safety and quality standards. An FHA-approved appraiser will check the house to make sure it's in good condition.
  • Mortgage Insurance: Since the FHA is taking on some risk, you'll have to pay for mortgage insurance. This is an extra cost added to your monthly payment, but it's what allows the down payment and qualifications to be more flexible.

An FHA home loan can be a great option if you're buying a house for the first time or if you need a little extra help with the process. It's designed to make home ownership more achievable and less overwhelming.