what is an FHA

The FHA stands for the Federal Housing Administration. The FHA offers home loans for borrowers with as little as 3.5 percent down.

FHA loans are mortgage loans that are INSURED by the Federal Housing Administration, or our government. FHA does not lend money, they insure loans against default. The loan has to be underwritten to FHA minimum underwriting guidelines to qualify. Lenders can and will oftentimes add their own set of rules above and beyond FHA's minimum guidelines, so for this reason, not every lender will allow every scenario.. for that reason, it's best when you shop, you use a mortgage broker rather than the local bank.. the local broker has access to numerous lenders with varying programs which aid them in seeking out the best lender for your particular scenario.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

FHA loans are mortgage loans that are INSURED by the Federal Housing Administration, or our government. FHA does not lend money, they insure loans against default. The loan has to be underwritten to FHA minimum underwriting guidelines to qualify. Lenders can and will oftentimes add their own set of rules above and beyond FHA's minimum guidelines, so for this reason, not every lender will allow every scenario.. for that reason, it's best when you shop, you use a mortgage broker rather than the local bank.. the local broker has access to numerous lenders with varying programs which aid them in seeking out the best lender for your particular scenario.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

FHA is also known as the Fair Housing Act, and falls under HUD.

FHA loans are mortgage loans that are INSURED by the Federal Housing Administration, or our government.

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As has already been mentioned, FHA loans are insured by the Federal Housing Administration. Typically, FHA interest rates are less than those of conventional loans. Contrary to what most people think, FHA loans are for everyone who doesn't want to, or can't, make a 20% down payment. A down payment of only 3.5% is required. Mortgage insurance will have to be paid (any loan with less than a 20% down payment requires this), and there is an upfront fee of 1.75% that is included in the loan amount. For a $400K loan, that equates to $7,500. If a low down payment loan is what you're looking for, FHA is one way to go. There is another option that only requires a 3% down payment, with lower monthly mortgage insurance, and no upfront fee, which may be more suitable for you. Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to walk you through the process. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 40+ quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.