FHA – Federal Housing Authority

By financially guaranteeing loans, the FHA lifts much of the risk of non-payment and foreclosure from private lenders. It is important to remember that the FHA is not a lender; they just guarantee your loan.


  • Bankruptcy is not an automatic disqualification
  • Lower interest rates
  • Down payment is less
  • Lower mortgage points and other closing cost requirements
  • Lower incomes can also apply
  • Resale can be made more quickly
  • Is backed by the U.S. government



  • Down payment required
  • Higher upfront Mortgage Insurance Premium (MIP) than on conventional loans but monthly MIP is lower
  • Loan Limits are lower than Conventional
  • MIP required regardless of the Loan-to-Value (LTV)



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NOT A GUARANTEE, OFFER OR AGREEMENT. EVERETT FINANCIAL, INC. D/B/A SUPREME LENDING NMLS ID #2129 (www.nmlsconsumeraccess.org) 14801 Quorum Dr., #300, Dallas, TX 75254. 877-350-5225. © 2017. Information, rates, & programs are subject to change without prior notice. Subject to credit & property approval. Not affiliated with any government agency. Intended for Texas Consumers Only. Texas- SML Mortgage Banker Registration Residential Mortgage Loan Originator.