FHA loans

FHA loans generally are ideal for Mid to FHA loan requirements.

Low-income borrower. The borrower can borrow 96.5% of the total value of the home. It does not require a large down payment. Only 3.5% is required as a down payment. This means it is a great option for first-time homebuyers. The down payment can come from the borrower’s retirement plan, and government grants as well. These loans are insured by the Federal Housing Administration.