FHA Loans

FHA home loans are mortgage loans that are insured against default by the Federal Housing Administration (FHA) and governed by HUD.  FHA loans are available for single family and multifamily homes. The FHA doesn't issue loans or set interest rates, it just guarantees against default.

FHA loans allow individuals who may not qualify for a conventional mortgage obtain a loan, especially first time home buyers. These loans offer low minimum down payments, reasonable credit expectations, and flexible income requirements. This loan is ONLY for those homebuyers who will live in the home.  Here are some highlights:


  • Up to 96.5% financing for home purchases or refinance
  • lower mortgage ratyes than conventional mortgages
  • 1-4 family homes
  • non-occupant co-signors o.k.
  • credit scores as low as 560
  • rehab and renovation financing available
  • down payment can be a gift (credit scores over 580)
  • no income limits
  • Don't have to be a first time home buyer


Want to discuss FHA financing to see if it's right for you?  Contact us today at 207-878-7770 or go on-line to our secure application and fill out your prequalification application here.