Benefits and Considerations
Lower Down Payments
An FHA mortgage may require a down payment as low as 3.5 percent, although the interest rate may be somewhat higher than with a conventional mortgage.
Lower Credit Thresholds
One of the benefits of the FHA loan program is that home buyers may qualify even without a long credit history or outstanding credit.
Popular for Refinancing
Many borrowers with newly adjusting ARMs look to refinance into fixed-rate FHA loans. Learn more about your refinance options.