An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on his or her loan obligations. Available to all buyers, FHA loan programs are designed to help creditworthy low-income and moderate-income families who do not meet requirements for conventional loans.

FHA loan programs are particularly beneficial to those buyers with less available cash. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.

Some of the other benefits of FHA financing:

•  Pay as little as 3% of the purchase price for your down payment
• Closing costs can be financed
• Manufactured Homes and Condo's allowed
• Get Cash Out for Home Improvements, Vacations or College Tuition
• Lower your monthly payments
• Consolidate High Interest Credit Cards and Installment Loans
• Payoff outstanding judgments and tax liens
• Improve monthly cash flow
• Easy Qualification
• Possible Tax Advantages
• No Closing Costs Options
• Problem Credit or Discharged Bankruptcy Accepted
• Loans are assumable to qualified buyers