Don’t let a low down payment, lack of credit history, or inability to cover closing costs keep you from buying a home. With an FHA loan, you may still qualify. That’s because FHA loans promote home ownership by providing an alternative to conventional financing, which has stricter qualification requirements.
FHA Loan Benefits:
- Lower down payment options
- Less-restrictive credit qualifications
- Lower closing costs
- MIP can be paid in cash or financed as part of the loan
