Quillfeather / FHA loans
FHA loans
An FHA loan is a mortgage insured by the Federal Housing Administration. It can allow a lower down payment and more flexible credit guidelines for qualified borrowers, in exchange for mortgage insurance premiums.
At a glance
- Lower down payment options for qualified borrowers
- Gift funds may help with the down payment
- Up-front and annual mortgage insurance premiums
- The home must meet FHA property standards
Common questions
Is FHA only for first-time buyers?
No. Repeat buyers can use FHA too, as long as the home will be their primary residence.
Can I use gift money?
Often yes, with documentation. Your loan officer will explain what is needed.
How long does it take?
It depends on the file and the property. Your loan officer will give you a timeline after reviewing your situation.
General information only, not an offer to lend. Eligibility, terms and costs depend on your situation; talk to a licensed loan officer.