Whether you’re a potential homebuyer, seller, or both, you probably want to know: will home
What is a FHA Loan?
An FHA loan is a mortgage issued by an FHA-approved lender and insured by the Federal Housing Administration (FHA). Designed for low-to-moderate income borrowers, FHA loans require lower minimum down payments and credit scores than many conventional loans.
Is an FHA Loan Right for You?
FHA loans are a good option for first-time homebuyers who may not have saved enough for a large down payment. Even borrowers who have suffered from bankruptcy or foreclosures may qualify for an FHA-backed mortgage.
If you are considering a FHA loan, it is important to speak with one of our loan specialists to see if you are eligible and to compare the benefits and drawbacks of this type of loan against other types of loans.
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FHA Loan Requirements 2022
FHA loan requirements include a minimum credit score of 500 if you can make a 10% down payment, as well as limits on your total monthly debt load.