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FHA loans: Everything you need to know

 

Last updated 1/13/2022 at 5:42pm

The Federal Housing Administration also has a program called FHA 203(k) Rehabilitation Loan or renovation loan, that enables homebuyers to take the financial burden out of renovating a home. Village News/Metro photo

FALLBROOK – Most people obtain a home through financing. You're probably already familiar with some common types of home loans such as conventional financing through banks and veteran's loans for active and retired military members. Some potential homebuyers who are not able to meet the qualifications for certain loans may look into the Federal Housing Administration loan.

What is an FHA loan?

Downpayment and closing costs

Federal Housing Administration loans make homeownership more attainable with a smaller down payment. You can pay 3.5% down, compared to as low as a 5% down payment fo...



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