An FHA loan is a mortgage issued by federally qualified lenders and insured by the Federal Housing Administration (FHA).
FHA loans are designed for low-to-moderate income borrowers who are unable to make a large down payment.
As of 2016, these loans allow the borrower to borrow up to 96.5% of the value of the home (or sales price whichever is less); the 3.5% down payment requirement can come from a gift or a grant, which makes FHA loans popular with first-time homebuyers.
Key One Capital Mortgage Corporation may accommodate Borrowers with lessors credit scores as well as offering expanded debt to income ratios, allowing for more Borrowing Power.
