Federal Mortgage Programs

This document contains information about federal programs to help you purchase your own home with a low-cost mortgage. HUD's Federal Housing Authority (FHA) has mortgage insurance to help you become a homeowner. FHA doesn't actually make loans. Instead, it insures loans so that if buyers default for some reason, the lenders will get their money. This encourages lenders to give mortgages to people who might not otherwise qualify for a loan. You may be able to get an FHA loan 3% down, or even less! Talk to an FHA-approved lender about itto see if an FHA loan might be right for you.