What Is an FHA Loan?
An FHA Loan is a government mortgage that’s backed by the Federal Housing Administration (FHA). FHA Loans offer low down-payment and credit requirements, as well as less-stringent underwriting guidelines than conventional loans. At Bank of Internet USA, our FHA Loan rates are among the lowest in the nation.
Is an FHA Loan Right for You?
An FHA Loan may be right for if you:
- Want to take advantage of flexible qualification and credit requirements
- Have a down payment or home equity of less than 20% of the mortgage loan amount
- Already have an FHA loan and want to save money with a quick and easy FHA loan refinance