An FHA loan is a mortgage insured by the Federal Housing Administration. These loans are available to homeowners who may not qualify for traditional programs. They offer borrowers affordable down payments (as low as 3%), low closing costs, and less stringent application requirements.

This comprehensive guide can help you understand the essentials of taking out an FHA mortgage.

FHA Loans 101

FHA Loan Basics – What is an FHA mortgage and how does it work? This article will walk you through the essentials of FHA lending.

Answers to Common FHA Mortgage Questions – Taking out an FHA loan can be confusing. Find the answers to frequently asked FHA loan questions here.

The FHA Loan Process

FHA Loans Step-by-Step – From the application to the closing date, this article will guide you through the steps you’ll take as an FHA borrower.

How to Qualify for an FHA Loan – Loans insured by the Federal Housing Administration are easier to get than traditional mortgages. But, not everyone can meet the requirements.

How to Choose an FHA Lender – Choosing a lender with more experience can help make your FHA application go through smoothly. Here’s what to look for.

FHA Loan Limits – The FHA sets a cap on how much they will lend in each county. Find out how much homeowners can borrow in your area.

Down Payment Assistance

FHA Down Payment Assistance – Several non-profit programs are available to help borrowers come up with the required down payment and closing costs.

FHA Programs

FHA 203(b) Traditional Home Loan – This traditional mortgage allows homeowners to take out a loan with only 3% down.

HUD 203(k) Loan for Fixer-Uppers – Using this loan, homeowners can get extra cash to fund property repairs and renovations.

FHA Energy Efficient Mortgages – “Green” borrowers use this mortgage to get extra money for energy-saving home improvements.

HUD Reverse Mortgages – If you’re over 62, this mortgage will give you a monthly check while letting you keep your home.