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FHA Loans:
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An FHA Loan gives you a government-insured loan with flexible financial qualifications to purchase a home.
The Federal Housing Administration (FHA) runs several programs to promote homeownership. These programs are popular because they allow borrowers to buy a home with a smaller down payment. FHA loans make it easier for people to qualify for a mortgage.
The basic FHA loans requires a minimum 3.50% down payment with more flexible qualifications, like lower credit scores and higher qualification ratings that conventional loans
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There are some FHA loans that provide downpayment assistance when you have the qualifying income but not the down payment
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