The Federal Housing Administration helps purchasers realize their dreams of homeownership by offering more lenient lending guidelines
WHAT IS AN FHA LOAN?
An FHA loan is a government-backed mortgage insured by HUD that is designed to help buyers with flexible credit and down payment requirements.
HUD Housing: HUD housing refers to programs by the U.S. Department of Housing and Urban Development (HUD) which provides affordable housing for low-income families, seniors, and people with disabilities, primarily through Public Housing (local agencies manage units) and Housing Choice Vouchers (Section 8). Eligibility hinges on income, family status, and citizenship/immigration status.
Are FHA mortgage interest rates competitive?
FHA mortgage interest rates are often competitive with conventional options and may be more accessible for first-time homebuyers depending on current interest rates today.