An FHA loan is partially insured by the Federal Housing Administration (FHA), an agency created to help borrowers recover from the Great Depression.
The FHA’s insurance lessen’s a lender’s risk making it a perfect option for borrowers with limited funds for a down payment and/or those with imperfect credit.
- Designed for those with less than perfect credit
- As low as 3.5% for a down payment
- Lower credit scores still get offered a great rate