The Federal Housing Administration, also known as FHA, was established in 1934 under the U.S. Department of Housing & Urban Development also known as HUD. FHA provided insurance to mortgage lenders so they are more willing to make loans that have lower down payments, lower closing cost, and easier credit qualifying standards.

FHA requires an upfront mortgage insurance premium & has a monthly mortgage insurance premium that is built into your mortgage payment. With the lower than average interest rates offered by FHA most homeowners benefit from using FHA to finance their property.

When your credit score is below 620 and/or you have less than 5% to put down on the purchase of a home. Or if you currently have an FHA mortgage and are above 80% loan to value and need to refinance to lower your interest rate and monthly mortgage payment.

Due to the expanding financial market other loan programs are available that may provided better lending terms without any required mortgage insurance.

By completing our brief online Real Time Loan Quote we will calculate your monthly payments with all products and provide you with real numbers so you can make an educated decision.