FHA Loans and Requirements
An FHA Mortgage Loan can help you purchase the home you’ve always wanted. This government-insured loan often requires a lower down payment—perfect for first-time homebuyers.
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What Is an FHA Loan?
If you're buying a home for the first time—or even if you've owned one before—and need help getting approved for a mortgage, an FHA loan could be a great option to explore. FHA loans are backed by the U.S. Federal Housing Administration, which means the government guarantees the loan to private lenders like banks. This gives lenders more flexibility to approve borrowers who might not qualify for a traditional loan.
Key Considerations
- You want to buy a home with a low down payment.
- You want to refinance your current home.
- You do not need to be a first-time homebuyer.
- You earn a qualifying income.
Key Benefits
- Lower down payment compared to traditional mortgages
- Fixed Rate
- Flexible loan terms
FHA Loan FAQs
Additional Resources
First Time Home Buyer
Thinking about buying your first home? Fifth Third Bank offers you tips that take you through the entire process.
Five Steps to Become a First Time Homebuyer
Purchasing your first home should be an enjoyable process. Follow these steps on how to buy your first home and see first time home buyer loan options.
Get to know the terms you may hear during the home-buying process
Learn about terms used in mortgage loans with our mortgage glossary & get answers to mortgage frequently asked questions in our FAQ section!
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