FHA home loans are a popular mortgage option for first-time homebuyers and other borrowers with limited financial resources or less-than-perfect credit. With lower credit score and down payment requirements than most other mortgages, they're easier to qualify for, while competitive rates make them affordable.
FHA Loans Articles
A mortgage loan from the Federal Housing Administration - often the first financing source for young, first-time homebuyers and other underserved buyers- can offer some of the lowest down payments, closing costs and easy credit qualifying among lenders. Recent college graduates, however, may not find FHA mortgages as appealing as they used to be.
In January when President Obama announced a reduction in Federal Housing Administration mortgage insurance premiums that would save new borrowers an average of $900 annually, an FHA mortgage once again looked like a great deal.