What is an FHA Loan?
FHA loans are an attractive option, especially for first-time homeowners because it is insured by the Federal Housing Administration (FHA). Primarily, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.Typically the borrower can be approved with 3.5% down vs 20% that is required on other loan programs.
How Can We Help?
At Tom Anthony – Reliable Mortgages, we can answer any questions you have about FHA loans. If you are located in the state of Florida, contact Tom today to get approved for an FHA loan.