So What Is an FHA Loan?
FHA stands for Federal Housing Administration. In simple terms, this is a loan program that’s popular with first-time homebuyers that is backed and insured by the federal government. Now it’s important to know that this isn’t who will make you the loan, your lender will do that, but this is an entity that oversees and helps folks get into new homes. Also worth noting – not all lenders are FHA qualified and not all FHA qualified lenders are the same when it comes to interest rate, fees, etc. Like anything else, always shop around to get the best deal.
What Are the Advantages of FHA Loans?
When it comes to an FHA loan- What’s in it for me? A much lower down payment! I don’t know about you but growing up I always thought…