FHA loan

Location

US

TAGS

• HUD
• finance
• mortgage loan

OTHER names

FHA loans are loans from private lenders that are regulated and insured by the Federal Housing Administration (FHA), a government agency. The FHA doesn’t lend the money directly–private lenders do.

FHA loans allow for down payments as low as 3.5 percent; allow lower credit scores than most conventional loans; and have a maximum loan amount that varies by county.

For borrowers with good credit and a medium (10-15 percent) down payment, FHA loans tend to be more expensive than conventional loans. For borrowers with lower credit scores or a smaller down payment, FHA loans can often be the cheapest option.

Source: CFPB

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With 20+ years in housing finance, founder Kanan Ajmera decided to build software to solve the problem of disconnected data and processes, then brought together a team of housing professionals to make it happen.

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