What are FHA Loans?
This blog post will introduce you to FHA loans and answer questions you may have about FHA loans. FHA loans are mortgages insured by the Federal Housing Administration, or FHA, which regulates the housing industry and serves as the largest mortgage insurer in the world. Since the FHA insures the lender against borrower default, lenders are able to offer attractive rates for these loans, along with less strict qualification requirements. FHA loans make homeownership accessible to more people. For instance, FHA loans allow for down payments of as little as 3.5% as opposed to the typical 20%. To put the significance... Read More