Austin FHA Loan
FHA Mortgage FAQs
What is an FHA loan?
An FHA loan is a government loan that is guaranteed by the Federal Housing Administration (FHA). They provide mortgage insurance on loans made by FHA-approved lenders nationwide. The FHA insures millions of properties nationwide.
Why consider an FHA loan?
There are numerous benefits of an FHA loan, including:
- Low down payments for FHA
- Competitive mortgage rates
- More flexible qualification guidelines than for some other loan products
- Debt ratios are allowed to be higher than most conventional mortgages
- Lower FICO scores are acceptable through the FHA Purchase/Refinance program