FHA loans have been helping people become homeowners since 1934. How do we do it? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal.
- Low down payments
- Low closing costs
- Easy credit qualifying
mortgageWhat does FHA have for you?
Buying your first home?
FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price. Available on 1-4 unit properties.
Financial help for seniors
Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer “yes” to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.
Want to make your home more energy efficient?
You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.
How about manufactured housing and mobile homes?
Yes, FHA has financing for mobile homes and factory-built housing. We have two loan products – one for those who own the land that the home is on and another for mobile homes that are – or will be – located in mobile home parks.
Ask an FHA lender to tell you more about FHA loan products.
Find an FHA lender
Need advice? Contact a HUD-approved housing counselor or call
Need help with your downpayment? State and local governments offer programs that can help. Find a program near you.
Thinking about buying a home? We have information that can help! Got questions? Talk to one of our housing counselors!
1. Figure out how much you can afford
What you can afford depends on your income, credit rating, current monthly expenses, downpayment and the interest rate.
- Fair Housing: Equal Opportunity for All – brochure
- Real Estate Settlement Procedures Act (RESPA)
- Borrower’s rights
- Predatory lending
3. Shop for a loan
- Looking for the best mortgage: shop, compare, negotiate – brochure
- Let HUD help you
- Learn about interest only loans
- Homebuying programs in your state
- Let FHA help you ( loan programs offer lower downpayments and are a good option for first-time homebuyers!)
- HUD’s special homebuying programs
5. Shop for a home
- Wish list – what features do you want?
- Home-shopping checklist? take this list with you when comparing homes
- Homes for sale (including HUD homes)
- “Fixer-Uppers – home purchase and repair programs
- Manufactured (mobile) homes
- Shopping for a Home FAQ’s