Fed Housing Admin

The Federal Housing Administration (FHA) is a division of the U.S. Department of Housing and Urban Development, commonly referred to as HUD. FHA loans were created to provide affordable mortgage loans to homebuyers.

The federal government insures FHA loans, or guarantees participating lending institutions against loss from default on qualifying loans.

Programs and Features:

  • Fixed Rate Loans, Temporary Buy-Downs, and ARMS
  • Available for detached 1 to 4 unit dwellings, eligible condos, and PUD’s
  • Properties must meet HUD guidelines and be inspected by HUD-approved appraisers
  • Subject to loan limits set by HUD (see HUD website for loan limits)
  • Mortgage insurance premium paid monthly
  • One time mortgage insurance premium also charged, which may be financed.
  • Non-occupant co-borrowers allowed
  • 100% of down payment and closing costs may be a “gift”
  • Fully assumable by a qualified borrower
  • Seller may contribute a maximum of 6 percent of the lower of the sales price or the appraised value

Ask one of our qualified loan officers if your property qualifies for an FHA loan today!