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FHA - Federal Housing Administration

Mortgages insured by the FHA program offer affordable options to applicants that may not have perfect credit.

FHA Loan

An FHA loan is a government-insured mortgage.  FHA loans may help some buyers get into the home of their dreams with better terms, and a lower down payment.

What is an FHA loan?

FHA loans are mortgages backed by the U.S. Federal Housing Administration. Lenders, banks, credit unions, and brokers like us can provide FHA loans for home purchases. Buyers may purchase a home with an FHA mortgage with as little as 3.5% down.

What is required for an FHA loan?

Almost all of the same documents you need for a conventional loan are required for an FHA loan. FHA loans are only available for the borrower’s primary residence.

Credit requirements are seen as “lower” for FHA loans; borrowers with a credit score below 700 might get better financing with an FHA vs conventional mortgage. Each lender looks at individual applications and may ask for additional documentation or explanations. They are often able to work with buyers with a lower credit score or shorter credit history than in other situations.

FHA loans can also be combined with down payment assistance programs.

**Montezuma Mortgage is not affiliated with or acting on behalf of or at the direction of FHA, VA, USDA or the Federal Government.

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