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:
Loan terms from 15 – 30 years
No maximum income limitations
Required down payments can be gifted
No restrictions on property location eligibility requirements
Generally easier to qualify for than conventional loans.
Lower down payment requirements.
Cannot exceed statutory loan limits.
Learn more about FHA loans. (Department of Housing and Urban Development)
