FHA Loans
FHA loans are designed for low- to moderate-income applicants who are typically unable to make a large down payment by allowing homebuyers to borrow up to 96.5% of the value of the home.
- Issued by federally qualified lenders
- Insured by the Federal Housing Administration (FHA)
- Designed for low- to moderate-income applicants who are typically unable to make large down payments
- All levels of income accepted
- Allow homebuyers to borrow up to 96.5% of the value of the home
- 3.5% down payment requirement can come from gifts or grants, making these loans popular with first-time buyers
- Loans are assumable, meaning they can be transferred to the next buyer of a home
