FHA Loan

Buying a home when you have little money saved & a less-than perfect credit score might seem like a pipe dream, but it's not. In many cases an FHA loan can help!

What is a FHA loan?

An FHA loan is a home loan the Federal Housing Administration insures. FHA loans require a smaller a down payment and lower closing costs and allow relaxed lending standards to help homeowners who don’t qualify for a conventional mortgage.

FHA loans allow a down payment of as little as 3.5% on a mortgage. This can make it possible for lower- and middle-income borrowers to buy a house when they don’t qualify for a conventional loan — which has stricter requirements, including a higher credit score and bigger downpayment.

   Low down payment required

   Lower credit score requirements

   Sellers allowed to pay up to 6% of closing costs

   Loans are assumable

   Loans are backed by the U.S Government

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All information on myutahmortgage.com is for informational purposes only and, while Utah Mortgage strives to keep its information accurate and up to date, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. All loans are subject to credit and property approval. Programs, rates, terms and conditions are subject to change without notice. Other restrictions may apply. Utah Mortgage, Incorportated NMLS# 1432672. Equal Housing Lender | 1525 North Main Street, Suite 100, Bountiful, UT 84010