Federal Housing Authority (FHA) loans are great for first-time homebuyers and people who want an easy approval process.
FHA loans have relaxed qualifying standards and offer reasonable terms to people with lower credit scores, and even bankruptcy, because they are insured by the government. If you’re on the road to rebuilding your credit, an FHA loan may be the right choice for you.
FHA loans keep interests rates low to make buying a home as affordable as possible, even with less-than-perfect credit. There are always fees when taking out a mortgage, but FHA loans keep these low as well.