FHA Loans

What are FHA Loans?

Designed to help low-to-moderate income borrowers, an FHA loan is a federally backed mortgage issued by an approved lender and insured by the Federal Housing Administration (FHA). Most FHA loans only require a 3.5% down payment and often allow for lower credit scores than conventional loans. However, minimum credit scores can vary from one FHA lender to the next, requiring a little homework on our part to find an ideal match. All FHA loans come with two types of mortgage insurance. Typically financed into the loan, the FHA charges an up-front mortgage insurance premium of 1.75% of your total loan amount. In addition, most FHA loans require a monthly mortgage insurance premium (MIP) that is paid for the life of the loan. Though there are exceptions. An FHA loan is a great option for buyers who fall outside of the conventional loan requirements or have “B” or “C” credit.
Back to Loan Options
Apply Now
Quick Rate Quote

Mortgages for you, with you.

© 2020 Mortgage Atlanta LLC All Rights Reserved  |  Georgia Residential Mortgage Licensee 24081  |  NMLS Company License #184273