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.

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