Advantages of FHA Loans

There are a number of advantages when it comes to FHA loans. What are they? 1) Your FICO score plays a very small role in determining approval. 2) You need only put down 3 percent. 3) Interest rates are very competitive compared to private loans. 4) Approval is easier to get since you the FHA is insuring the loan. All and all, this makes for an attractive mortgage loan.