Buyers can obtain FHA home loans through approved lenders, such as banks, online lenders and credit unions. The loans have 15- to 30-year terms with fixed or adjustable interest rates.

FHA loans allow down payments as low as 3.5% with a 580 FICO or 10% with a 500 FICO. The federal government insures FHA loans, but the loans are issued by private lenders.

The Federal Housing Administration (FHA) insures the most common type of reverse mortgage, which is known as a home equity conversion mortgage (HECM). HECMs are offered only through FHA-approved ...

Discover today's FHA refinance rates, learn about different FHA refinance options, and find out if refinancing your mortgage could be a smart move. Business Insider logo Personal Finance ...

FHA simple refinance: The home you’re refinancing must be your principal residence or a HUD-approved secondary residence to qualify. The lender will order an appraisal and verify that you’ve ...

The lender selects an FHA-approved 203(k) consultant to guide the renovation project. The consultant submits a proposal and bid to the lender, which then begins processing the loan.

FHA loans do not have income limits and allow you to be considered even if you have poor credit. You can qualify with a credit score as low as 500, provided you meet other criteria.; Lenders have ...

While FHA-approved lenders may set minimum eligibility requirements at a higher FICO credit score, there is often more flexibility when considering your loan application.

FHA purchase loan: This is the most common type of FHA loan. With a credit score as low as 580, you can use it to buy a home with as little as 3.5% down. It’s also called an FHA 203(b) loan.

Pros of FHA-Approved Condos. Lower Credit Score Requirements – FHA-approved condos can be purchased with a credit score as low as 500 with 10% down. Borrowers with a credit score of 580 or higher only ...