Skip to main content

FHA Loan

May be a good option for first-time home buyers

FHA loans generally require a lower down payment because they are insured by the Federal Housing Administration, a government agency within the U.S. Department of Housing and Urban Development. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan.*

Mortgage Inquiry


Generally lower down payments than conventional loans


Flexible credit and income guidelines


Loan decisions done locally to ease approval process


Fixed-rate and adjustable-rate loan options available

Down Payment

Has low down payment options

Gift or Grant

May allow you to use gift or grant for all or a portion of your closing costs

No Application Fees

INB does not charge for submitting a FHA loan application


Provides FHA insurance* to lenders in the event the homeowner defaults on the loan

Loan Limits

Maximum loan amounts vary by county


* The Federal Housing Administration (FHA) provides mortgage insurance on loans made by approved lenders. FHA mortgage insurance provides lenders with protection against losses against mortgage payment default. The cost of the mortgage insurance is paid by the homeowner as an upfront amount which is usually financed into the loan amount, as well as an amount that is included in the monthly mortgage payment. The amount of mortgage insurance paid on an FHA loan is dependent on the base loan amount, loan term and loan-to-value (LTV) ratio.