FHA Loans have been available for almost 50 years and offer guidelines allowing for higher loan-to-values. Loans are insured by the Federal Housing Administration. If you're looking to buy your first home, your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties. A FHA 203K Streamline is a rehab loan. Funds to correct defective property items are included in the loan amount allowing you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan. FHA Streamline loans offer reduced documentation to verify borrower's employment and income. Lastly, FHA offers reverse mortgages for seniors. Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer "yes" to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash. Reverse mortgages can also be used to purchase a home, please see additional information under reverse mortgages on our website.