- Georgia FHA Loan:
FHA mortgage loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.
FHA loans are an attractive option, especially for first-time homeowners:
- Generally easier to qualify for than conventional loans.
- Cannot exceed statutory loan limits for the area.
- 3.5% down payment can be borrower's own funds and/or a gift from a relative.
- Minimum qualifying credit score 580+.