Insured by the government, FHA loans are a good fit for borrowers who don’t have a large sum of money to use as a down payment, accompanied by a credit profile that doesn’t qualify them for a conventional loan.  This type of loan requires less cash up front and qualified borrowers are not subject to income limits.  FHA loans also allow the use of a ‘gift’ for either all or a portion of the down payment as well as the closing costs.  If you do not qualify for a conventional loan on your own, FHA would be another option as they allow a co-applicant to help qualify without the co-applicant having to reside in the home.  With a FHA loan there are varieties of loan terms to fit your situation as well as down payment selections as low as 3.5%.  With both fixed and adjustable interest rate alternatives available, our experts at US Home Mortgage can help determine which option is the best fit for you.