FHA mortgage loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.
FHA loans are an attractive option, especially for first-time homeowners because they are generally easier to qualify for than conventional loans, and they have much lower down payment requirements.
However, you are not required to be a first-time homebuyer to get an FHA loan. Many homeowners choose to use the FHA loan for each new mortgage they get, due to the easier qualifications, and the cheaper cost of the monthly PMI.
To learn more about FHA loans, contact one of our qualified mortgage specialist at 812-842-2283.
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