FHA loans are mortgages insured by the Federal Housing Administration, a federal agency within the Department of Housing and Urban Development. Because FHA loans are government-assisted and insured, they are more accessible for borrowers (compared to conventional loans).
An FHA loan is a great option if you want to put less money down, don’t have enough savings built up for a conventional loan requirement of 20% down, or have a lower credit score. It’s important to note that while FHA loans require borrowers to pay for mortgage insurance (since they’re government-backed), they serve to provide homeownership opportunities for many home buyers who don't qualify for conventional financing!
FHA Loans Make Homeownership Achievable:
Newrez believes the lending business shouldn't just be about home loans - it should be about homeowners. That's why our employees get to know our customer's real needs, through final closing, and beyond.
Industry leading loan options
Simple pre-qualifications and application processes
Loans for everyone, from seasoned investors to first-time buyers
Putting power back into underserved communities