What is a FHA Mortgage?
Loans guaranteed by the Federal Housing Administration, or FHA Loans, aim to make buying homes more affordable for low- to middle-income borrowers, with relaxed lending standards, down payments as low as 3.5% and competitive interest rates. FHA loan requirements are a lot more lenient than other types of mortgages. FHA loans have been making homeownership more accessible for decades.
Advantages of FHA l loans: