FHA mortgage loans have been helping people become homeowners since 1934. How does the FHA Mortgage Help? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan from Private FHA Mortgage Lenders, so your lender can offer you a better deal.
- Lower down payments – Only 3.5% downpayment can come from family or gift.
- Low closing costs – The Seller Can Credit you up to 6% of the contact sales price to cover all of your closing cost!
- Easy credit qualifying – If you can prove the ability and willingness to pay debt. Even if you have bad credit can qualify for an FHA mortgage loan with a credit score in the 500’s!
Other popular FHA mortgage questions include: