[vc_row][vc_column][vc_row_inner][vc_column_inner width=”2/3″][vc_single_image image=”6539″ img_size=”full” alignment=”center”][vc_column_text]An FHA loan is a mortgage that’s insured by the Federal Housing Administration (FHA). They are popular especially for first time home buyers because they allow down payments of 3.5% for credit scores of 580+. However, borrowers must pay mortgage insurance premiums, which protects the lender if a borrower defaults. It’s important to remember though, that the lower the credit score, the higher the interest borrowers will receive.[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/3″][vc_widget_sidebar sidebar_id=”sidebar-1″][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]