Why Choose an FHA Mortgage?
Home loans insured by the Federal Housing Administration (FHA) can make it easier for your members to qualify to purchase or refinance a home. This loan option offers flexible qualification guidelines to help people who may not qualify for a conventional mortgage.
Increases chances of buyer eligibility
First-time home buyers programs
For those that may not qualify for conventional home loans
Low down payment (as low as 3.5%)
Allows for alternative credit sources
Allows borrowers to qualify with credit scores as low as 600
Cash out refinancing
Seller can credit up to 6% of the sales price toward buyers closing costs and prepaid items
Job Requirement Guidelines:
*Fairway is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency.