FHA loans are an attractive option, especially for first-time homeowners because it is insured by the Federal Housing Administration (FHA). Primarily, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.Typically the borrower can be approved with 3.5% down vs 20% that is required on other loan programs.
What is an FHA Loan?
FHA Loan Advantages
FHA Loan Eligibility
FHA Loan Limits
Mortgage Insurance Premiums (MIPs)