Federal Housing Administration (FHA) Loans
FHA loan programs are designed primarily for first-time home buyers and others with moderate incomes that have not yet been able to save the cash needed for down payment amounts. A program insurance charge is rolled into the monthly payment amount to support this program and typically ends as the loan is paid down over time. A variety of loans are offered through FHA programs, including fixed rate and adjustable rate mortgages for single-family homes, multi-family homes, condominiums and other home types.
- Low down payments programs
- Seller can pay your closing costs
- 100% of down payment can be gifts from relatives
- Ability to finance home rehabilitation and energy efficiency
improvements - No prepayment penalties
- Refinance programs with streamlined documentation
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