FHA Loan Benefits and Features
- Low down payment: Minimum is 3.5% of the purchase price. Mortgage insurance is required.
- Lower credit scores: Minimum is 580. Scores below 580 may still qualify, but the minimum down payment would be at least 10%. Restrictions apply.*
- 100% gift funds are acceptable for down payment and closing costs.
- Fixed-rate and adjustable-rate mortgages (ARM) available.
- Flexible qualification guidelines.
- Other requirements and conditions apply.
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* Academy Mortgage arranges, but does not make some loans