FHA loans are mortgage loans insured by the Federal Housing Authority (FHA), which is a division of the U.S. Department of Housing and Urban Development (HUD). These loans are designed to make home ownership more accessible, particularly for first-time homebuyers and borrowers with lower credit scores or limited down payment funds.
It is important to note that while FHA loans provide more flexibility and accessibility, they do have some limitations and additional costs, such as mortgage insurance premiums. If you are considering an FHA loan, it is advisable to consult with our professionals at Sterling Financial Services who can assist in determining if an FHA loan is suitable for your specific circumstances and financial goals.
FHA Loan Limits:
Number of Units Maximum original principal balance