FHA loans

Home loans insured by the Federal Housing Administration (FHA) can make it easier for you to qualify to purchase or refinance a home. This loan option offers flexible qualification guidelines to help people who may not qualify for a conventional mortgage. This allows homebuyers and refinancers lower down payments, flexible credit requirements and more purchase power. If funds are limited, an FHA home loan can help you finance more than 80% of your home value.
FHA loan highlights

FHA loans are widely used by first-time homebuyers and people with low-to-moderate incomes since this government-insured mortgage features:

  • Low down payments
  • Flexible income and credit requirements
  • Fixed- and adjustable-rate mortgages
  • Loans for 1-4 unit properties and condos may be available
  • Down payment funds can be a gift from a relative or employer*
  • Home sellers can contribute up to 6% of the closing costs
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