Most people who use FHA financing when making their first housing investment. FHA home buying has helped Americans since 1934. The Department of Housing and Urban Development oversees the FHA and they have made it their mission to make homeownership more affordable and more accessible.

Consumers like FHA home buying because the down-payment requirements are only 3.5%. Lending guidelines are more flexible when it comes to credit as well. Consumers also appreciate the low FHA mortgage rates because they increase a borrower's buying power.