FHA Mortgage Loan

Federal Housing Administration is what FHA stands for. It is a great loan option that helps people who cannot qualify for a conventional loan and who have a down payment of at least 3.5% of the purchase price. Google says that it is a loan that is designed for low to moderate income borrowers. I would disagree with that. There is not income limit on an FHA mortgage, but there is a loan limit. I think it is designed for a borrower who has a smaller down payment and who perhaps has credit that has been damaged in the recent past. Credit requirements on an FHA mortgage loan are more lenient than a conventional mortgage. Some FHA lenders will allow a credit score as low as 580, but most still prefer a score of 620 and above. FHA has a very rich history and boasts that it is the only self-supporting government agency. You can read about FHA history here if you are so inclined: https://www.hud.gov/program_offices/housing/fhahistory
When you work with a mortgage professional who has all the options they will put you in the right loan. FHA might be the right loan, but there might be a better option. My modus operandi is to look at your situation, with my knowledge and expertise, and put you in the loan I would do for myself if I were you. FHA is great, but if there is a better option I will figure that out and present that to you.