FHA is an acronym for the Federal Housing Administration. FHA is part of HUD, which stands for the Department of Housing and Development.
If you’d love to buy a home but have minimal credit, little to no down payment, an FHA loan may be the solution for you. FHA financing was developed to provide homebuyers with an alternative to conventional financing and include attractive and flexible guidelines.
FHA loans are insured by the Federal Housing Administration (FHA) and may have an easier qualification process due to less stringent down-payment and credit requirements than conventional mortgages.
Note: If you’re a current military member or veteran, you may be eligible for a VA home loan with little or no downpayment.
