Do you think you meet the eligibility requirements for an FHA loan? There are many advantages to an FHA loan as compared to conventional financing. Learn more about this special type of loan and see if you qualify.

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Advantages of an FHA loan

An FHA loan is insured by the Federal Housing Administration as part of HUD, which allows lenders to offer better terms than traditional mortgage loans. They have been available since 1934 as a way to promote home ownership in the U.S. The benefits of an FHA loan are:

  • Low Down Payments
  • Low Closing Cost
  • Easy Credit Qualifications
  • Ability to Roll Closing and Repair Costs into the Mortgage Loan

Read more on FHA Loans.

We can help you find an FHA loan!

BorrowMoney can help you find an FHA loan and compare multiple offers. Always compare the rates and terms of conventional versus FHA loans. There are many FHA loan products to fit different borrower's needs. They can be used for mobile homes and factory-built homes, as well as homes that require repairs. Down payments can be as low as 3.5% of the purchase price and most of the closing costs and fees can be included in the loan. There are reverse loans for seniors 62 and older, as well. See if you meet the FHA eligibility requirements by answering a short questionnaire.