FHA loans can be used to purchase a home or refinance an existing mortgage. The FHA (Federal Housing Administration) insures these mortgages in the event of default so lenders are more likely to make loans using more flexible underwriting guidelines.
FHA-insured mortgages generally will allow for lower credit scores, gift funds for down payment and have many more advantages.
Interest rates are very competitive.
Call us today to see if an FHA mortgage is right for you – 203.294.1409