FHA Loans

FHA home loans are mortgage loans that are insured against default by the Federal Housing Administration (FHA).  FHA loans are available for single family and multifamily homes. These home loans allow banks to continuously issue loans without much risk or capital requirements. The FHA doesn't issue loans or set interest rates, it just guarantees against default.

FHA loans allow individuals who may not qualify for a conventional mortgage obtain a loan, especially first time home buyers. These loans offer low minimum down payments, reasonable credit expectations, and flexible income requirements.

FHA loans are not restricted to first time home buyers, however as a general rule, a borrower cannot have more than one FHA loan open at any given time.

FHA also offers renovation (203k Limited and Standard) and new construction lending as well. Ask a team member for more information.