FHA Loans are mortgages that are insured by the Federal Housing Administration and issued by an FHA-approved lender.

These loans are popular with first-time home buyers and low-to-moderate income borrowers because:

1. FHA Loans require a low minimum down payment

2. FHA Loans allow lower credit scores than conventional loans.

Keep in mind, FHA Loans may charge a slightly higher interest rate than conventional loans due to the more lax credit and down payment requirements.

For more info, contact a HBLending Home Loan Expert.