FHA Home Loans

 Allowing for lower down payments and lower credit scores, an FHA mortgage is ideal for first-time home buyers or those with limited savings.

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FHA Loans Help Put More Families in Homes

The Federal Housing Administration (FHA) was established to improve housing standards and to provide an adequate home financing system with mortgage insurance. The FHA loan program helps families that may otherwise be excluded from the housing market finally buy their dream home.

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An FHA loan is a mortgage insured by the Federal Housing Administration. FHA loan requirements are less strict than many conventional loans, and feature low down payment options and flexible credit and income guidelines. Borrowers need to make a minimum down payment of 3.5%. FHA loans are popular among first-time home buyers who have little savings or credit restrictions.

FHA loan types

There are a number of FHA loans available from a Basic Home Mortgage Loan 203 (b), 203 (k) Rehab Mortgage and more. 

Lower down payment

You can borrow up to 96.5% of the value of a home with an FHA loan. This means your FHA down payment could be as low as 3.5%.

Higher debt-to-income ratios

The FHA requires a debt-to-income (DTI) ratio of less than 60, meaning that your mortgage payment plus all other monthly debts can’t be more than 60% of your pretax income.

203(k) Loans

An FHA 203(k) loan finances the purchase and renovation of a home. The cost of upgrades are rolled into the mortgage, allowing home-owners to pay for the renovations over time. Since 203(k) loans are insured by the Federal Housing Administration, they offer qualification requirements that aren’t as strict as other renovation loans.

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FHA Mortgage Loan FAQs

If you believe a FFB employee is acting suspiciously you can complete the form linked below to get in touch with our leadership team.

You can get in touch with our leadership team or a specific department at FFB by completing the form linked below.

FFB’s mortgage division has a number of entry level positions including contact agents, mortgage lending assistants, closing coordinators, processing assistants, and receptionist which cover multiple departments and career paths. Many of our entry level staff stay with FFB and move on to new positions as they come available. We also have training initiatives in place that allow staff to enter roles with larger skill gaps.

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