HUD and the FHA loan requirements and the opportunities they provide.
FHA and HUD (Housing for Urban Development) has been helping people become homeowners since 1934. How does HUD do it? The FHA – which is part of HUD – insures the loan, so your lender can offer you a better deal according to FHA loan requirements.
- Low down payments (3.5% for FHA)
- Closing costs can be paid for by the seller
- Low credit qualifying scores down to 580 are approved.
What does FHA have for you?
Buying your first home?
FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan.
Want a fixer-upper according to HUD?
FHA loan requirements allow you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs – a 203k loan.
Ask an FHA lender to tell you more about FHA loan products.
Find an FHA lender
Need advice? Contact a HUD-approved housing counselor or call
Need help with your down payment? State and local governments offer programs that can hep. The Lenders Network will help you locate a program if available in your state.