This is a YouTube video titled "đź’ˇ Home Buying 101 - FHA đź’ˇ" containing a presentation by Derek McGowan from July 18, 2021, explaining FHA financing options for home buyers, including details about down payments, credit requirements, and mortgage insurance.
Things you should know when buying your new home. FHA Financing the FHA loan allows for a lower down payment of 3.5%. It also has a fixed rate mortgage insurance or PMI. So this means if you have greater credit, there are probably other financing options that work better for you. Those with low credit, however, FHA is much more lenient and there are programs starting at 580 credit and above. So this allows many families across the country to have their opportunity at home ownership as well. SA.
