Mortgage Monday: FHA Loans

FHA Loans

The Federal Housing Administration (FHA) insures qualified loans to promote home ownership for those with

  • Low or moderate income
  • Limited savings

FHA loan limits vary by county, with larger loan amounts allowed in areas with higher housing costs. This makes it a perfect program for first time home buyers. Contact a mortgage consultant to see about FHA loan limits in your area.

FHA loan features include

  • Low down payment requirements
  • Flexible income, debt and credit requirements to help borrowers qualify
  • Down payment and closing costs that may be funded by a gift, grant or secured loan.

Contact Mary Woodbury at mwoodbury@golfsavingsbank.com for more information or questions about an FHA loan.

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