FHA Home Loans
The Federal Housing Administration (“FHA”) offers loan programs which incorporate mortgage insurance. Because of this protection for the lender, FHA loans generally have a lower down payment requirement than do conventional loans. FHA loans are often characterized by somewhat more liberal qualifying formulas than for conventional loans. FHA loans have potential disadvantages including loan limits may be considered by some borrowers to be inadequate in certain high cost areas. In addition, appraisals required as part of the loan process by the FHA may contain more repair requirements than conventional loans.
Highlands Residential Mortgage lenders are FHA loan experts. Call one of our lenders today to explore your FHA mortgage loan options.