What is an FHA home loan?

TA Federal Housing Administration (FHA) loan is a mortgage loan that is insured by the government and issued by mortgage lender that is approved by the agency. We shop around with about 5 different wholesale lenders who are FHA approved lenders.

FHA loans require a minimum down payment of 3.5% but you can put more down if desired. This loan program is great for clients with lower credit scores or higher debt to income ratios. They are a little more forgiving on those items than a conventional loan. 

The FHA loan is designed to help low- to moderate-income families attain homeownership. They are particularly popular with first-time homebuyers.