We’ve Got Your Six!
Trying to buy a home affordably without a perfect credit score or a lot of money for a down payment may feel like a challenge. But it doesn’t have to be. The FHA mortgage program was created specifically for first time homebuyers and others in this situation.
You can qualify for an FHA loan even without a perfect FICO score, and you only need to put 3.5% down on a home.
What is an FHA Loan?
The FHA loan program is a government-insured lending program backed by the Federal Housing Administration (FHA). When you take out an FHA mortgage, the Federal Housing Administration guarantees it.
Since the lender is protected should you default, you can qualify more easily for more favourable terms.