![]() ![]() ![]() ![]() ![]() The FHA also offers loans that allow you to purchase a home in need of repairs and to roll the cost of the fixes into the primary mortgage loan. Traditional lenders such as banks issue the loans, but they are insured by the FHA, reducing the risk to the lender and allowing the lender to provide better terms.įHA loans require low down payments - typically only 3.5 percent - and low closing costs, many of which can be included in the loan. Department of Housing and Urban Development (HUD) has been has been helping first-time homebuyers get loans backed by the Federal Housing Administration (FHA) since 1934. Calculating the Max Amount for an FHA Backed Loan ![]()
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