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What is a FHA Loan?
An FHA loan is insured by the Federal Housing Administration (FHA) and has a low minimum credit score and down payment requirement. An FHA loan was designed to help first-time homebuyers, low-to-moderate-income individuals, and families become homeowners by offering lenient lending standards compared to other loan programs.
Key Features of FHA Loans
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Lower down payment, often as low as 3.5%
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Easier credit requirements
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Limited closing costs
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Fixed or adjustable rates
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Can be used to purchase, build, renovate, or refinance ​
Who Can Benefit From An FHA Loan?
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First-time homebuyers​
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Individuals with lower credit scores
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People who have a limited ability to make a large down payment

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