An FHA insured loan is a US Federal Housing Administration mortgage insurance backed loan which is provided by an FHA approved lender. FHA insured loans were created by the US government as an assistance program to allow Americans to borrow money for purchasing a home to live in that they might not have been able to afford otherwise. The home must be owner occupied and must fit some specific criteria.
580 Minimum FICO
No required reserves
Appraisal requirements to protect you as the buyer
30 year fixed rate
In-house processing, underwriting, docs and funding mortgages available
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