FHA Loans

las vegas home interior

The Federal Housing Administration was created in 1934 as an effort to bolster homes sales during the Depression. By financially guaranteeing loans, the FHA lifts much of the risk of non-payment and foreclosure from private lenders. It is important to remember that the FHA is not a lender; they just guarantee your loan.


  • Bankruptcy is not an automatic disqualification
  • Less stringent credit requirements
  • Lower interest rates
  • Smaller down payment (3.5%)
  • Lower mortgage points and other closing cost requirements
  • Resale can be made quicker


  • Down payment required (3.5%)
  • Higher Mortgage Insurance Premiums (MIP) than conventional loans
  • Loan Limit is $322,000
  • Closing costs may be paid by the lender and/or the seller
  • MIP required regardless of the Loan-to-Value (LTV)

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