What Is an FHA Loan?
An FHA loan is a US mortgage insured by the Federal Housing Administration, designed to make home buying accessible to borrowers with smaller down payments or lower credit scores. Qualifying borrowers can put down as little as 3.5%. FHA loans require mortgage insurance premiums, both upfront and annually, under program rules set by HUD.
FHA vs. Conventional
Conventional loans are not government-insured and may drop private mortgage insurance at 20% equity; FHA mortgage insurance rules differ and may last longer depending on the down payment.
Loan Limits
FHA loan limits vary by county and are updated annually.
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🔗 Related Terms
More Home Buying Terms
- Adjustable-Rate Mortgage (ARM)
- Appraisal Gap
- Assessed Value
- Bridge Loan
- Cash-Out Refinance
- Closing Costs
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Last updated: September 27, 2026. This definition is for general educational purposes only. It is not financial, investment, tax, legal, or medical advice, and it does not recommend any product or course of action. For decisions about your own situation, consult a qualified professional.