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.

Popular Among:

  • First-time Homebuyers
  • Buyers who meet FHA lending guidelines

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!