Aloks

Buying a home can feel overwhelming—especially if your credit score or savings for a down payment are limited. That’s where FHA loans come in. An FHA loan (Federal Housing Administration loan) is a government-backed mortgage designed to help low-to-moderate income borrowers qualify for homeownership more easily. In this guide, we’ll explain: ▪️What an FHA loan is ▪️How it works ▪️FHA loan requirements ▪️Pros and cons ▪️FHA vs conventional loans ▪️Who should apply What Is an FHA Loan? An FHA loan is a mortgage insured by the U.S. Federal Housing Administration. While private lenders issue the loan, the government protects the lender if the borrower defaults. This lower risk allows lenders to offer: ▪️Lower credit score requirements ▪️Smaller down payments ▪️More flexible approval standards These loans are especially popular with first-time homebuyers, immigrants with limited credit history, and borrowers rebuilding credit. How FHA Loans Work When you apply for an FHA mor...