What is an FHA Loan?
FHA loans are available to homebuyers who plan to make a low down payment (as little as 3.5 percent). There are no maximum income or earning limitations, and fixed-rate loans are available.
Key Aspects to Remember
- If you need financing for more than 80% of your home value, the FHA loan is a good option to consider.
- FHA loans do not carry prepayment penalties, giving you the flexibility to refinance or pay off your mortgage early without incurring any fees.
- First-time Homebuyers
- Buyers who meet FHA lending guidelines
How much house can you afford? Find out with our Mortgage Calculator.
Learn More about the Loan Application Process
An Evansville Teachers Federal Credit Union home mortgage professional will answer any question you may have, and walk you through the loan application process.Get Pre-Approved!