FHA Home Loans

A FHA loan is a federal assistance mortgage loan insured by the Federal Housing Administration.

FHA loans have historically allowed lower and moderate income home buyers to borrow money for the purchase of a home that they would not otherwise be able to afford.

The program originated during the Great Depression of the 1930s, when the rates of foreclosures and defaults rose sharply, and the program was intended to provide lenders with sufficient insurance.

Over time, private mortgage insurance companies came into play, and now FHA primarily serves people who cannot afford a conventional down payment or otherwise do not qualify for private mortgage insurance. The program also help by lowering some of the costs involved with buying a home.

Some benefits of a FHA Mortgage
  • Reduce down payments to as little as 3 percent
  • Many closing costs can be refinanced
  • Some fees are limited, such as the loan origination fee may not exceed 1% of the of the amount of the mortgage. 

To find out more about loan pre-qualification or other loan programs available now in the Guilford County area, contact Jack Bailey at (336) 294-4949 or With over 24 years in the real estate and finance industry, Jack can answer many of your questions or put you in touch with the right resource person.