FHA MORTGAGE OPTIONS — OPENING THE DOORS TO HOMEOWNERSHIP

FHA mortgage home loans are insured by the Federal Housing Administration (FHA) which can make it easier for you to qualify to purchase or refinance a home. This mortgage loan option offers flexible qualification guidelines to help people who might not qualify for a conventional mortgage.

What is an FHA Mortgage Loan?

FHA mortgage loans are home loans that are insured by the U.S. Government’s Federal Housing Administration (FHA). An FHA mortgage is an important option to consider when looking for the home of your dreams, especially for first-time homebuyers or buyers with low to moderate incomes.

The Federal Housing Administration (FHA) was formed in 1934 to spur greater homeownership numbers in the U.S. and to facilitate home financing, improve housing standards and increase employment in the home-construction industry. FHA mortgage loans accomplish this through:

  • Low down payment requirements
  • Flexible income and credit requirements
  • Fixed- and adjustable-rate loan options
  • Offering loans for 1- to 4-unit properties and condos in some cases
  • Allowing gift funds from a relative or employer*to be used for down payment
  • Allowing home sellers to contribute up to 6% of applicant’s closing costs
    *Subject to underwriting review and approval.

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