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An FHA loan may be easier to qualify for if you have limited down payment (FHA loans may be available with as little as 3% down), have less than perfect credit history (the FHA guarantees the loans for the lender allowing them to assume more risk than would otherwise be the case), may have lower closing costs and may offer a lower interest rate. All these are reasons why it may make more sense to have an FHA loan as opposed to a conventional loan.

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13y ago

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