FHA Loan

These loans require as little as 3.5% down, the rates are wonderful, and they allow for a much higher debt to income ratio. You can only use an FHA loan for a primary residence loan, and there is a maximum loan amount for this program.

FHA Loan:
FHA mortgage loans are issued by federally qualified lenders certified 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.
  • Cannot exceed statutory loan limits.