What are FHA home loans?
FHA loans are a type of mortgage designed to help borrowers with low-to-moderate income or low credit purchase a home in Idaho. The loan is available through private mortgage providers (mortgage companies, banks, and credit unions) that are approved by the Fair Housing Administration (FHA). In return for issuing the loan, the FHA assures the lending agency it will be repaid if the borrower were to default on their mortgage.
- FHA loan quick view
- Down payment as low as 3.5%
- Low credit score qualifying
- No income limits
- Allows for a non-occupant co-borrower to help you qualify
- 6% maximum seller contribution
- Properties must meet HUD guidelines
- Mortgage insurance is required and may be financed into the loan.
- Low closing costs
- Flexible requirements
- Simple & secure online application
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