The FHA loan program has been around since 1934 and is overseen by the Department of Housing and Urban Development. These loans tend to be a popular choice for first-time homebuyers, though you don’t need to be buying a home for the first time to get one.
- Low down fee requirements
- Down settlement costs
- Smoother borrowing from the bank standards so you’re able to qualify
Just how can FHA Finance Really works?
Once more, this new FHA will not grant funds. Alternatively, brand new Federal Property Government works together lenders to help you ensure loans courtesy the fresh FHA system. Read more