FHA home loans FHA loans are specifically intended for lowe..
Added 2021-10-18 00:04:36 +0000 UTCFHA home loans
FHA loans are specifically intended for lower-income, lower-credit, and/or first-time home buyers.
This program, which is backed by the Federal Housing Administration, makes it easier to become a homeowner by relaxing the standards borrowers must meeet to get a mortgage.
Depending on the lender you use, you might be able to get an FHA loan with a debt-to-income ratio up to 45% or a credit score as low as 580.
Select FHA lenders even allow credit scores starting at 500, as long as the buyer can make a 10% down payment.
Thanks to these perks and others, the FHA loan is one of the most popular low-down-payment mortgages on the market.
