What is a FHA Loan?
A Federal Housing Administration (FHA) loan enables you to qualify to purchase or refinance a home. This option offers flexible guidelines and maybe a great alternative for those who do not qualify for a conventional mortgage. This loan type is most commonly used for first-time homebuyers.
Things to know about this loan type:
• Minimum downpayment of 3.5%
• Relaxed qualifying guidelines
• Higher Debt To Income ratio acceptable
If you are interested in a conventional loan, please contact one of our experts.