An FHA loan is a mortgage backed by the US Government’s Federal Housing Administration or FHA. It is useful for first-time home buyers who may have lower credit scores or other issues which will eliminate them from consideration by conventional lenders. They also have lower down payment requirements than conventional loans, another advantage to first-time buyers.
The DPA Team at Sterling Realty stands ready to assist first-time homebuyers and others who need assistance with down payments or closing costs. Many first-time buyers have little or no established credit to qualify for conventional financing. We provide a range of services to assist them including: