FHA Loans

FHA stands for the Federal Housing Administration, a government agency within the Department of Housing and Urban Development. One of the most common mortgage programs available is the FHA loan. For many, an FHA loan is a fantastic option to buy a home. For others, the benefits don’t quite outweigh the costs. The main benefit is the 3.5% required down payment when buying. Having no credit or a lower than 620 credit score may often require you to use this type of Financing. It is a very good loan for those starting out without much credit history and a smaller down payment.

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