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There are lots of reasons to ask your lender for an FHA loan instead of taking a conventional or an expensive and risky sub-prime mortgage loan. Why not take advantage of the many benefits and protections that only come with FHA:

Easier to Qualify - Because FHA insures your mortgage, lenders are more willing to give loans with lower qualifying requirements so it’s easier for you to qualify.

Less than Perfect Credit - Even if you have had credit problems, such as bankruptcy, it’s easier for you to qualify for an FHA loan than a conventional loan.

Low Down payment - We have a low 3.5% down payment, and that money can come from a family member or employer. Other loans don't allow this.

Closing cost – Seller can contribute 6% towards closing cost, most of the conventional program allows only 3% towards closing cost.

Costs less - Many times, FHA loans have competitive interest rates because the loans are insured by the Federal Government. Always compare an FHA loan with other loan types