WHAT DOES
FHA HAVE FOR YOU?
FHA
Loans
FHA loans have been helping people become homeowners since 1934. What is an FHA loan? It is a loan backed by the Federal Housing Administration, and they typically require lower down payments, closing costs and are easy credit qualifying.
When applying for any home loan, your credit history and financial situation will be factors in determining your eligibility to qualify for a loan, however, FHA loans provide options for borrowers who may have lower credit scores and smaller down payments saved.
WHAT DOES
FHA HAVE FOR YOU?
FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties.
Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer “yes” to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash. Visit our Reverse page for more information.
You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.
Yes, some FHA loans can be used for mobile homes and factory-built housing. There are two loan products – one for those who own the land that the home is on and another for mobile homes that are – or will be – located in mobile home parks.