What is an FHA Loan?
FHA loans are an attractive option, especially for first-time homeowners because it is insured by the Federal Housing Administration (FHA). Primarily, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments. Typically the borrower can be approved with 3.5% down vs 20% that is required on other loan programs.
How Can We Help?
At 456 Lend, we know all about FHA loans and can see if you qualify for an FHA loan so you can begin your journey in buying a home you love. If you are located in Washington, Idaho, or Oregon, contact us today to get started.