Did You Know?

The FHA insures mortgages for people with different needs. That's why it offers a variety of mortgage programs with the same FHA guidelines.

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FHA Loans: America's Favorite Mortgage

What appeals to many first-time homebuyers about FHA loans are the lenient eligibility requirements. But whether you're buying your first home, or just moving to a new one, the FHA loan program can help you finance a home with low down payments and flexible guidelines.

FHA Fixed Rate Loan

A popular FHA program is the fixed-rate mortgage, in which the interest rate remains the same through the term of the loan. With this constant interest rate, monthly payments don't change. Fixed-rate mortgages come with terms of 15 or 30 years.

FHA ARM (Adjustable Rate Mortgage)

Adjustable-rate mortgages have an interest rate that—after an introductory period—varies for the life of the loan. The interest rate changes annually, going higher or lower, reflecting the fluctuating market indices approved by the FHA. The FHA has a few adjustable-rate mortgage options that can suit the needs of many borrowers.

One-Time Close Loans

This construction loan is an FHA program that finances the lot purchase, construction, and permanent loan of a new home in a single mortgage. You need only qualify once and pay a single set of closing costs. Your fixed-interest rate is locked in and the entire loan is in place before construction on your new home begins.

FHA Graduated Mortgage Payments

The FHA offers this type of loan to borrowers who expect their income to increase. The Graduated Payment Mortgage initially has low monthly payments that then gradually increase according to one of five available plans, which have varying lengths and rates.

FHA Growing Equity Mortgage

Growing Equity Mortgages (GEMs) are part of the FHA's Section 245(a) loan type that start off with lower initial payments, and increase according to a predetermined schedule over the life of the loan.

FHA Energy Efficient Mortgage

The FHA's Energy Efficient Mortgage program (EEM) finances energy-efficient home improvements for FHA borrowers. This helps homebuyers save money on household utility bills so that they can afford to make monthly payments on their home mortgage.

FHA Condominium Loans

The FHA helps finance the purchase of condominiums with what is called a Section 234(c) loan. This loan can have a term of up to 30 years. It is primarily for residential condos that have at least two units and are located in an FHA-approved condominium projects.

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FHA Loan Articles

Ready To Apply for an FHA Loan?

Before you get ready to commit to a home loan application, it’s good to review your circumstances and ask a few basic questions about your loan, your plans, and the home itself. Believe it or not, knowing what type of home loan you need is an important step.

Fixing Your Credit Score

When getting ready to shop for a home loan, it's worth taking a look at your credit report. Your credit score is a big factor when lenders take a look at your loan application, and it plays a huge role in the interest rate you get. 

What to Know About Down Payments

When it comes to buying a house, saving up for a down payment can be one of the most overwhelming aspects. While down payments are one of the biggest obstacles for many in the mortgage process, it helps to understand the ins and outs of why they play such a big role.

Let's Compare FHA Loans to VA, USDA, and Conventional Mortgages

Buying and financing a home is complicated and can become overwhelming. It's important for you to stay informed, and know what your options are. So, start with the basics and read about the four different mortgage types available before approaching a lender.

FHA Programs for Fixer-Upper Homes

The fact is that repairs and renovations to your home cost a lot of money. Luckily, the FHA has an option for those with fixer-uppers on their hands. The FHA 203(k) Rehabilitation Mortgages allows borrowers to finance the funds for renovations to a home.

Mobile, Manufactured, and Modular Homes: Now You Know

If you’ve begun your search for a new home and are looking into mortgage options, you’ve likely heard of mobile, manufactured, and modular homes. While people working in real estate throw these terms around easily, it might be something that leaves everyday homebuyers confused.


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