FHA Loans

An FHA loan is a mortgage loan insured by the Federal Housing Authority which is part of the U.S. Department of Housing and Urban Development (HUD).

FHA loans used to have lower down-payment requirements and were easier to qualify for than conventional loans. In recent years, however Fannie Mae or Freddie Mac have introduced low down-payment programs like the Community Home Buyer program.

FHA loan limits vary geographically.

Besides the 30-year fixed and adjustable loans, FHA has some very unique programs such the 203K loan (for rehabilitation of run-down properties) and the Title 1 loan (for home improvement) which requires no equity.