A Federal Housing Administration (FHA) Loan is insured by the Federal Housing Administration. This is often a popular product for first-time homebuyers, as it offers low down payment options. An FHA loan requires as little as 3.5% down, making it an appealing option for both first-time homebuyers as well as anyone having difficulty coming up with a larger down payment.
- Smaller down payment requirements – as low as 3.5%
- Lower monthly mortgage insurance premiums
- Refinance loans available
- Fixed rate and ARMs available
- Various term options:
- 30 year fixed
- 15 year fixed
Call a loan professional to help at (855) 231-3700.
All loans are subject to credit approval. First Independence Bank does not act on behalf of or at the direction of HUD/FHA or the federal government.