Federal Housing Administration (FHA)
FHA loans are designed for low-to-moderate-income borrowers; they require a lower minimum down payment and lower credit scores than many conventional loans.
Federal Housing Administration Loans (FHA)
- are insured by the Federal Housing Administration
- allow for a low down payment, as little as 3.5% down
- offer low down payment for multi-family properties (owner-occupied)
- offer flexibility with lower credit scores and higher debt-to-income ratios
- typically offer a lower interest rate and lower closing costs than conventional loans
If you would like more information about financing a home with a FHA Loan or would like to find out if you qualify for a FHA Loan, contact Spruce Mortgage today.