Federal Housing Authority (FHA) - First Metro Bank

Federal Housing Authority (FHA) Mortgages

FHA Loans are insured, private loans backed by the Federal Housing Administration.

FHA Mortgages are great for individuals, such as first-time homebuyers, who prefer a lower down payment than those required by a traditional mortgage.

  • A minimum down payment of 3.5%
  • Fixed interest rate
  • Flexible underwriting standards
  • Mortgage Insurance Premium (MIP) required
  • FHA Funding Fee required, but can be financed through the loan
  • No prepayment penalty

Interested in discussing a mortgage? Contact us.