FHA Loan

An FHA loan is provided by an FHA approved lender and backed by the Federal Housing Administration (FHA). FHA loans are designed for low to moderate income borrowers who are unable to make a large down payment. An FHA loan is an attractive alternative to borrowers because it has less stringent credit and income requirements than those of conventional loans.

Program Highlights:

  • 3.5% Down Payment Monthly
  • Mortgage Insurance Required
  • $271,050 Maximum Loan Amount
  • Qualified properties: Single Family, 1 to 4 units
  • 6% Limit on Seller Concessions
  • No Financial Reserves Required For 1 Unit Properties
  • Not Limited to First Time Homebuyers
  • Down Payment Can Be Gifted

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