FHA – Federal Housing Authority

The Federal Housing Authority (FHA) removes the risks of borrower non-payment and foreclosure from private lenders. The FHA is not a lender; they insure the loans against borrower default.


  • Bankruptcy is not an automatic disqualification.
  • Interest rates are lower.
  • Mortgage points and other closing costs are lower.
  • Lower-income applicants can also qualify.
  • The resale process is quicker.
  • Insured by the United States government.


  • A down payment is required.
  • Mortgage Insurance Premium (MIP) is higher upfront but lower monthly compared to Conventional loans.
  • Lower loan limits than Conventional
  • MIP is required regardless of Loan-to-Value (LTV).



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NOT A GUARANTEE, OFFER OR AGREEMENT. EVERETT FINANCIAL, INC. D/B/A SUPREME LENDING NMLS ID #2129 (www.nmlsconsumeraccess.org) 14801 Quorum Dr., #300, Dallas, TX 75254. 877-350-5225. © 2017. Information, rates, & programs are subject to change without prior notice. Subject to credit & property approval. Not affiliated with any government agency. Intended for Texas Consumers Only. Texas- SML Mortgage Banker Registration Residential Mortgage Loan Originator.
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