FHA 3.5% Down Payment

An FHA home loan is a US Federal Housing Administration mortgage insurance backed mortgage loan which is provided by an FHA-approved lender. FHA insured loans are a type of federal assistance and have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford.

Federal Housing Administration loans require a minimum 3.5% down payment, however, any down payment assistance program can cover the necessary minimum down payment. FHA home loans have an Upfront Mortgage Insurance Premium of 1.75% as well as a monthly mortgage insurance premium (MIP).

Down payment assistance and community redevelopment programs offer affordable housing opportunities to first-time home buyers, low- and moderate-income individuals, and families who wish to achieve home ownership.

FHA Home Loans: Benefits

  • Low Down Payments
  • Low Closing Costs
  • Easy Credit Qualifying
  • Great For First Time Home Buyers
  • Financial Help For Seniors

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