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FHA home loans try mortgages backed by the latest Government Housing Administration

FHA home loans try mortgages backed by the latest Government Housing Administration

The FHA loan program came into existence 1934 and is overseen by the Department of Housing and Urban Development. These loans tend to be a popular choice for first-time homebuyers, though you don’t need to be buying a home for the first time to get one.

  • Low-down percentage requirements
  • All the way down closing costs
  • Much easier borrowing requirements so you’re able to meet the requirements

Just how do FHA Loans Really works?