- Low down payment of 3.5% on your purchase price and up to 6% of seller paid costs
- Can add special loan to finance nonstructural repairs
- Mortgage Insurance is required
- Insured by the Federal Housing Administration
FHA loans are insured by the federal government. These loans have lower down payment options and more flexible lending requirements, making them popular for those with lower credit scores. Choice Mortgage is an FHA-approved Lender.