FHA loans are great for first-time homebuyers. FHA loans are available for properties from between 1 and 4 units.
FHA loans are insured by the Federal Government and will protect the lender from any losses that may incur if the home goes into foreclosure. The FHA program is more lenient when compared with conventional loans because they don’t require a minimum credit score to qualify.
FHA loans can also help homebuyers make their homes more energy efficient. If saving money through reduced energy costs and having an eco-friendly home is important to you, then you’ll be able to include energy improvement costs in your loan application.