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– [Narrator] Of the many home loan programs available to first-time home buyers and those with less-than-perfect credit, one of the most popular is an FHA loan. An FHA loan is a mortgage backed by the Federal Housing Administration and issued by an FHA-approved lender. There are many advantages. One, you can purchase your new home with as little as 3.5% down. Two, there are lower thresholds for credit score and higher debt-to-income ratios allowed than on conventional loans. Three, get a great interest rate comparable to most conventional loan programs. Four, your down payment can come from resources including savings, a financial gift, or a grant for down payment assistance. Already have an FHA loan and thinking about refinancing? An FHA Streamline refinance loan that offers these same great benefits without the need for an appraisal may be right for you. If you have questions about an FHA loan, including the types of homes that qualify, home inspection requirements, purchase price limits, the need for private mortgage insurance, or if you’re interested in our other low- or no-down payment programs, contact one of our licensed loan officers to find out which home loan best fits your financial situation.