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Federal Housing Administration

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Federal Housing Administration (FHA) loans tend to come with the lowest down payment options and to have the lowest credit score requirements. FHA loans have a monthly mortgage insurance premium for the life of the loan but the programs also have some distinct advantages to most conventional loans:

  • Lower down payment options
  • Often no cash reserves needed
  • Lower credit scores and alternative credit often accepted
  • Gifts can be accepted for down payment and closing costs
  • No cash reserves needed often
  • Non occupying co borrowers allowed
  • Loans can be assumable on certain programs 

Is an FHA loan right for you? This link offers some helpful hints


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