pros and cons of fha loan

New 3% Down Payment Mortgages Available – Discuss the pros and cons of each option with your lender to find the best fit for your situation, and also consider the FHA or VA path if you qualify for one of these loans and still can’t meet the.

While the VA provides a partial guaranty, the FHA fully insures each loan. That guaranty allows FHA lenders to provide financing to borrowers with lower credit scores and minimal down payments. FHA loans tend to have more lenient credit and underwriting requirements. While an FHA loan offers some cost-saving benefits, it generally can’t match the advantages of a VA loan.

15 vs 30 year mortgage – We compare the two loan options and go over the pros and cons of both 15 year and 30 year fixed-rate loans.