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FHA financing is perfect for:
Low-to-Moderate Borrowers With Credit Scores as Low as 580
Borrowers Who Can Only Afford a 3.5% Down Payment
Borrowers Who Need the Complete Down Payment to Be a Gift From a Relative
Refinancers With a Small Amount of Equity in Their Home
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What Is FHA Financing?

FHA mortgages are insured by the Federal Housing Administration (FHA). They are issued by federally qualified lenders and are designed to help borrowers with high debt-to-income ratios (DTI) purchase or refinance their homes. If you default on this loan, the FHA will cover your lender’s losses, therefore mortgage insurance is required.

Types of FHA financing:

You’ll have the same interest rate and monthly payment for the entire repayment term, even long-term financing options such as a 30-year loan.

Adjustable-Rate (ARMs)

You’ll start off with a lower interest rate than the fixed-rate loan, but it will be adjusted from time to time, causing monthly payments and interest to change over time.

FHA Financing

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