FHA Loans -- Some General History
FHA loans offer several advantages to individuals and families interested in purchasing their first home. Through this federally funded program, consumers have a greater chance to qualify for private mortgage loans. Designed to benefit lower-income households, an FHA loan is a desirable option for first time home-buyers who have limited funds to use as a down-payment. FHA loans are a premium option for first time home-buyers who have acceptable debt-to-income ratios and are in good standing with their credit.
While the FHA loan program has many benefits for home-buyers, it is not the best option for everyone when it comes to mortgage loans. FHA Loans are not suited for higher-priced mortgages. It can also be determined