FHA Loans

The Federal Housing Administration (FHA) offers FHA-insured loans that are designed to help increase home ownership by low- and moderate-income families and first-time homebuyers. Because the FHA insures the loan, lenders can offer greater flexibility in lending guidelines.

Available for single- and multi-family homes, FHA loan financing options include traditional fixed-rate products, adjustable rate mortgages and temporary interest rate buy-downs.

Key elements of FHA-insured loans include:

• Low down payment
• Minimal closing costs
• More flexible credit-qualifying guidelines
• No income limits
• Higher debt ratios permitted
• Less stringent job requirement guidelines