Federal Housing Administration (FHA) Loans

FHA mortgages help low-to-moderate-income homebuyers purchase homes with low down payments and flexible qualifying guidelines. These loans are insured by the Federal Housing Administration (FHA), which sets loan limits that vary by area. With an FHA mortgage, you can use a gift or unsecured loan for down payment and closing costs.

FHA mortgages are available in fixed-rate and adjustable-rate options and have no maximum income/earning limitations. Insurance from the federal government replaces private mortgage insurance. Maximum loan amounts vary by county - contact me for details.

Consider a FHA loan if you:

• Need a low down payment (usually three percent of the FHA appraisal value or the purchase price, whichever is lower)
• Have limited savings and/or moderate incomes
• Are a first-time homebuyer concerned about not having enough funds for down payment and closing costs on a new home