FHA Home Mortgage Purchase Or Refinance Loan - Why You Might Consider Getting An FHA Loan



HUD owns and operates FHA, which is a program designed to help borrowers who might have difficulty buying a house. If the borrower falls within FHA's requirements FHA insures the loan for the lender, which makes the loan very low risk for the lender, which is very good for the borrower. It could mean a lower interest rate, better terms and just an overall better loan.



FHA's requirements are; a down payment of 3-5%, the home must be under the FHA's set loan limit for the county that the borrower lives in and a few other small requirements.



The main advantage to an FHA loan, is if you can fall within their requirements, your...
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