FHA financing was developed to provide homebuyers with an alternative to conventional financing and include attractive and flexible guidelines. If you’d love to buy a home but are experiencing credit challenges, lack a down payment, or are unable to cover closing costs, an FHA loan may be the solution.

couple looking at house

FHA Home Loan Advantages

  • Ability to choose from a fixed-rate or adjustable rate mortgage
  • 3.5% down payment; some or all can be a gift from parents, relatives, an employer, and more
  • Flexible credit qualifying
  • Upfront mortgage insurance may be financed
  • May also be an option for borrowers with limited equity looking to refinance
  • FHA allows the seller to give up to 6% of the closing costs on behalf of the borrower