FHA Loans

FHA is a government-insured loan that has low minimum down-payment requirements of 3.5 percent for home owners. Down payments and closing costs can be gifted by relatives for a virtually $0 move-in for the home buyer. FHA does not have minimum credit score requirements and is one of the easier loans to qualify for as the interest rate is market driven, as opposed to driven by your FICO (or credit) score.

Posted in: Types of Home Loans