Is an FHA Loan Right For You?

The Federal Housing Administration (FHA) is a government run agency that insures the quality of loans issued by banks.  In essence, FHA helps lessen a lenders loss in the event of a foreclosure.  FHA offers many advantages:

• Low down payments (as low as 3.5%)
• Allows sellers to pay up to 6% of the borrowers closing costs
• Less restrictive credit requirements
• Allow for grants and down payment assistance from approved entities

 
Despite the many perks of an FHA loan, there may be guidelines or stipulations that would not fit your needs or you may not qualify for.  Learn more about FHA.