FHA Certification: Does it Make Sense for Your Community?
The Federal Housing Administration ("FHA") is a government agency that insures home loans for buyers who may not qualify for a conventional loan. By obtaining an FHA-insured loan, these buyers can more easily qualify for a home loan, make a smaller down payment, and pay less in closing costs. These types of loans are attractive to many first-time home buyers and other buyers who may choose to hold onto available funds, rather than making a sizeable down payment.