FHA Home Loans

An FHA Home Loan is a great way to go when purchasing your First Home. It is also a great program for purchasing specific types of homes such as Site Built or Manufactured, Doublewide Homes and Modular Homes. If you have a high interest rate in your present Home Loan or Mortgage this is also a great loan product to Refinance into.

An FHA Mortgage is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on his or her loan obligations. Available to all buyers, FHA Mortgage programs are designed to help creditworthy low-income and moderate-income families who do not meet requirements for conventional loans.

FHA Mortgage programs are particularly beneficial to those buyers with less available cash.  The rates on FHA Mortgage are generally market rates, while down payment requirements are lower than for conventional loans.