If you are a first-time homebuyer wanting to finance your first step toward achieving homeownership, FHA Loan could make it possible.
FHA loans are open to people with credit scores as low as 500. If your credit score range is between 500 and 579, you may be able to secure an FHA loan, supposing you can afford a down payment of 10%. If your credit score is 580 or higher, you can get an FHA loan with a down payment of as little as 3.5% down.
If you own a home that needs remodeling or repairs, you can refinance what you owe and add the repair costs into one FHA 203K Renovation Loan.
If you are looking to purchase a manufactured or factory-built home, FHA offers two loan options structured to meet your needs.