I’m often asked what an FHA loan is. FHA loans were originated in the 1930’s during the Great Depression to insure lenders against default with the sharply rising defaults and foreclosures which is similar to our market today!
A few highlights of FHA financing include:
- As little as 3.5% down
- lower credit score restrictions
- higher debt to income ratio limits
- greater tolerance with guidelines in certain cases
- better interest rate pricing in most cases
I love government financing and would love to connect to discuss it more in detail and how it can benefit you with your new home loan!