- Lower Down Payment: FHA loans allow for a down payment as low as 3.5% of the purchase price.
- Flexible Credit Requirements: Borrowers with lower credit scores may still qualify for an FHA loan.
- Competitive Interest Rates: FHA loans often offer lower interest rates compared to conventional loans.
- Assumable Loan: The loan can be transferred to a new buyer if you decide to sell your home.
- Refinancing Options: Streamlined refinancing options are available to reduce your interest rate or adjust your loan term.