Ideal for first-time homebuyers and those with less-than-perfect credit, FHA Loans cater to borrowers with limited savings and lower income levels.

• Low down payment options (as low as 3.5%)

• Flexible credit score requirements

• Mortgage insurance included, which can be rolled into the loan

• Available for various property types

• Minimum credit score of 580 for 3.5% down payment

• Debt-to-income ratio typically below 43%

• Proof of income and employment history required

• Homebuyer education may be required