Government-backed FHA loans help first-time, low- to moderate-income buyers secure homeownership with as little as 3.5% down. Their popularity is rising, with 15% of mortgaged home sales using FHA loans in December, up from a decade-low of 10% in 2022, according to Redfin. However, potential FHA staff cuts could slow loan processing, causing delays and added costs. If you’re considering an FHA loan to help you buy your first home, now is the time to apply. Reach out to PRMI today for help.
