The Federal Housing Administration (FHA) offers FHA-insured loans that are designed to help increase home ownership by low- and moderate-income families and first-time homebuyers. Because the FHA insures the loan, lenders can offer greater flexibility in lending guidelines.

Available for single- and multi-family homes, FHA loan financing options include traditional fixed-rate products, adjustable rate mortgages and temporary interest rate buy-downs.

Key elements of FHA-insured loans include:

  • Low down payment
  • Minimal closing costs
  • More flexible credit-qualifying guidelines
  • No income limits
  • Higher debt ratios permitted
  • Less stringent job requirement guidelines