FHA Loan

FHA loans are an attractive option, especially for first-time homeowners because it is insured by the Federal Housing Administrative (FHA). Primarily, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments. Typically the borrower can be approved with 3.5% down (vs. 20%) that is required on other loan programs.

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