FHA mortgage loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.
FHA loans are an attractive option, especially for first-time homeowners:
Generally easier to qualify for than conventional loans.
Lower down payment requirements. Minimum 3.5% down
Low mortgage insurance, low rates
Maximum loan amount of 271,050
Minimum credit score of 620 required
Easier credit qualifications
Fast approvals
Learn more about FHA loans. (Department of Housing and Urban Development)
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