FHA At A Glance

The Federal Housing Administration (FHA) insures
mortgage loans made through FHA approved lenders.

FHA loans can be a good option for first-time homebuyers,
those who may not have a lot of money for a
down payment or less-than-perfect credit. Also
available to non first-time home-buyers.

FHA loans now require a 3.5 percent down payment
and, unlike conventional loans, the money can come
from a family member, an employer or a charitable
organization as a gift.

FHA has revamped its appraisal standards to bring it
more in line with those of conventional loans.

An increase in FHA loan limits makes FHA-approved
loans more attractive to buyers.

FHASecure allows qualifying homeowners with a non-
FHA adjustable-rate mortgage to refinance with a FHAapproved
loan.

Source: U.S. Department of Housing and Urban
Development.