FHA loan

Location
US
TAGS
HUD
finance
mortgage loan
OTHER names

FHA loans are loans from private lenders that are regulated and insured by the Federal Housing Administration (FHA) , a government agency. The FHA doesn’t lend the money directly–private lenders do.

FHA loans allow for down payments as low as 3.5 percent; allow lower credit scores than most conventional loans; and ave a maximum loan amount that varies by county.

For borrowers with good credit and a medium (10-15 percent) down payment, FHA loans tend to be more expensive than conventional loans. For borrowers with lower credit scores or a smaller down payment, FHA loans can often be the cheapest option.

Source: CFPB

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HousingCount

Decoding the housing crisis

A public data project to track and analyze the rental housing shortage across the country, highlighting where additional units are needed most.

Shortage statistics for households earning Under 50% AMI
21
states with severe shortage
75%
of households rent-burdened
4.5M
total shortage of affordable units