RIS Media has some good information on those very common  FHA loans that many don’t understand. They point out a number of  facts that make the FHA Loan product so appealing and popular, including:

  • Those with imperfect credit can still qualify for an FHA Loan
  • Sellers, builders and lenders can legally pay some of the closing costs to induce the buyers to purchase
  • Extra cash is available under the 203B program  for those homes needing repairs
  • Although FHA  requires a 2.25% fee upfront towards mortgage insurance along with ongoing FHA premiums,  the low down payment makes an FHA loan very attractive for those without a large down payment

Read the whole article here