FHA loans are designed to help creditworthy lower-income and moderate income individuals and families to buy a home. These loans are beneficial to those borrowers that wish to put a minimum amount of down payment on the home. This program also has a little more flexibility in terms of borrower qualifications.
Some of the advantages of the FHA loan are:
The amount of money you can borrow, (which typically determine the cost of the home you can afford), is set by the US Government. Contact Us for more information on FHA loans.
The Federal Housing Administration (FHA) is a division of Housing and urban Development (HUD).