An FHA mortgage is a great option for first-time homebuyers or anyone with less-than-perfect credit who wants to make homeownership more accessible. With down payments as low as 3.5%, flexible credit requirements, and higher debt-to-income limits, FHA loans offer a more forgiving path to buying a home. FHA loans are often combined with Grant programs and other Down Payment Assistance Programs to lower down payment requirements. FHA loans also include benefits like assumable loan terms and renovation financing options through programs like the FHA 203(k). FHA Loans also makes it easier to refinance when mortgage rates move lower through the Streamline Refinance Program. For many buyers, an FHA loan is a smart, affordable step toward owning a home.
