A loan insured by the Federal Housing Administration open to all qualified home purchasers.While there are limits to the size of FHA loans, they are generous enough to handle moderately priced homes almost anywhere in the country.
- Generally easier to qualify for than conventional loans.
- Lower down payment requirements.
- Cannot exceed statutory loan limits.
FHA mortgage loans are issued by federally qualified lenders certified by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.
FHA loans are an attractive option, especially for first-time homeowners: