An FHA loan is a government-backed mortgage, insured by the Federal Housing Administration (FHA).  FHA loans are available for single family and multifamily homes. FHA loans allow individuals who may not qualify for a conventional mortgage obtain a loan, especially first-time homebuyers. These loans assist low to moderate income families, offer low minimum down payments, reasonable credit expectations, and flexible income requirements. 15 or 30-year loan terms available and require mortgage insurance for all loans. FHA loans have more flexibility with their requirements versus conventional loans. This may be a perfect mortgage solution for those starting out or those having a difficult time qualifying for a conventional mortgage.