Traditional Mortgage
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FHA Loans

Federal Housing Administration

Family with Home

Federal Housing Administration (FHA) loans are mortgage plans that provide an alternative to conventional banking finance.

FHA loans can be especially attractive to first-time homebuyers because of their lower down payment requirements and more lenient qualifying guidelines compared to other loan options.

    FHA loans offer more flexibility, especially when it comes to credit score, income level, homeowners’ equity, and down payments. 

    This makes them one of the most preferred alternatives to fixed-rate and adjustable rate mortgages. Some Requirements of FHA Loans:

    • 3.5% down, gift funds accepted
    • Terms of 30-year, 25-year, 20-year or 15-year fixed rates
    • Adjustable rates available as well
    • Full documentation of income and assets to close
    • Additional underwriting requirements will vary by borrower situation
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