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Federal Housing Administration Loans

Federal Housing Administration (FHA) loans are good for first-time home buyers and for those who need more financial flexibility. With lower rates and down payment requirements, FHA loans can make a big difference.

What is an FHA loan?

FHA loans were created to help people buy their first home. Since they’re insured by the FHA, these loans offer more flexibility in their lending requirements.

Benefits

  • Lower down payment requirements
  • Up to 96.5% financing available for home buyers
  • Good for people with lower credit scores

Requirements

  • Must keep 1-2 mortgage payments in the bank
  • No bankruptcies in the last 24 months or foreclosures in the last 36 months

Explore other loan options

Conventional loans

A popular option for anyone with good credit and a down payment of 20% or more.

Find out more about conventional loans

Jumbo loans

For people looking at homes in higher price ranges and in higher-cost housing markets.

Find out more about jumbo loans

Veterans Affairs (VA) loans

Offered to U.S. servicemembers, veterans and military spouses, and are guaranteed by the Department of Veterans Affairs.

Find out more about VA loans

Related Topics

Fixed vs. adjustable rate mortgages

Choosing the right type of loan for your needs is an important decision in house-buying.

Learn More

Find out what affects mortgage rates

Your credit score, the type of rate you choose and your property’s location are some of the factors that make a difference.

Learn More

Calculate how much you should borrow

Use our simple home loan amount calculator to figure out how much you can borrow for a loan.

Learn More

Find the mortgage option that’s right for you.  

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