🏠 What is an FHA Loan?
FHA loans are government-backed mortgages designed to make homeownership more accessible, especially for first-time buyers or those with less-than-perfect credit.
✅ Why Choose FHA?
Easier to Qualify
FHA loans have lower credit and income requirements, making it easier for many buyers to get approved.
Lower Interest Rates
Because FHA loans are insured by the government, lenders often offer competitive rates compared to other low-credit options.
Low Down Payment
You can put down as little as 3.5%, making it more affordable for many homebuyers.
⚠️ Disadvantages of FHA Loans
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Mortgage Insurance is Required – You’ll pay both upfront and monthly mortgage insurance premiums (MIP), which adds to the cost.
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Property Restrictions – The home must meet FHA guidelines (no fixer-uppers with major issues).
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Loan Limits – FHA loans have maximum loan limits, which may not work in high-cost markets.
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Primary Residence Only – FHA loans are only for homes you plan to live in, not investment properties.
👉 Not sure if FHA is the right fit? Let’s talk through your options and see what works best for your budget and goals.
📞 Call me (510)-542-7834 today!
Tina Bui – Your Trusted Mortgage Advisor