- FHA Loan:
FHA mortgage loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.
FHA loans are an attractive option, especially for first-time homeowners:
- Generally easier to qualify for than conventional loans.
- Lower down payment requirements.
- CHFA – Down payment assistance available
- Can go down to 580 credit score
- Down to 500 credit score with 90%LTV – depending on circumstance
- No PMI options available – Which can save you money – Or buy more home