FHA Loan

AN FHA LOAN IS PARTIALLY INSURED BY THE FEDERAL HOUSING ADMINISTRATION (FHA), AN AGENCY CREATED IN 1934 TO HELP BORROWERS AND BUSINESSES RECOVER FROM THE GREAT DEPRESSION. THE FHA’S INSURANCE LESSENS A LENDER’S RISK WHEN OFFERING LOANS TO BUYERS WITH LIMITED FUNDS FOR A DOWN PAYMENT AND/OR FOR IMPERFECT CREDIT.

FEATURES AND BENEFITS

✔You may qualify to buy with a low, 3.5% down payment.

✔Credit scores from 580 are allowed for fixed-rate loans.

✔Both fixed-rate and adjustable-rate mortgages (ARMs) are offered.

✔You may finance a single-family home, 2-4 unit property, modular home, condominium or a Planned Unit Development (PUD) property.

✔Temporary buydowns may reduce your initial interest rate for 1-2 years.