This is a HUD (Housing and Urban Development) government loan program. It allows borrowers to purchase a home with as little as a 3.5% down payment. The FHA has maximum loan limits for each county with are often significantly lower than Conventional Loan limits. 

Loan Terms: 15 & 30 year loans

Loan Types: Purchase and Refinance

Interest Rates Types: Fixed and Adjustable

Property Type: Primary Residence only

Minimum down payment: 3.5% of purchase price

Flexible qualification guidelines

Allows for not cost, limited qualifying streamline refinancing