What It Is
The FHA (Federal Housing Administration) program is designed to help homeowners and buyers qualify when they wouldn’t otherwise. FHA Loans can benefit those who need a lower down payment, have high debt or lower credit scores, or may have had a foreclosure or short sale in the recent past.
With only 3.5% cash of the purchase price required from the buyer, FHA loans make purchasing a home a more feasible option for many. For those who already have an FHA loan, it’s easy to lower interest rates by taking advantage of the FHA Streamline refinance program. With this program, homeowners can go from one FHA loan to another with a lower interest rate, without an appraisal or income qualifying. Click here to learn more!