An FHA mortgage is a loan secured by the Federal Housing Authority—a branch of the U.S. Department of Housing and Urban Development (HUD). Its goal is to help lower income individuals be able to purchase a home, by reducing upfront costs, credit requirements, and other barriers to homeownership.

Smaller Down Payment

When you prepare to buy your first home, you may feel pelted with words that seem foreign or are being used in a different context. To understand the “lingo,” here are many of the most common real estate terms:

On average, only 10 to 12 percent of homeowners sell their home without using a listing agent. As a buyer, there are a number of reasons for looking into for sale by owner (FSBO) homes, potentially including a lower price and the ability to speak directly with the seller about the home and the neighborhood.