In an effort to help low- to moderate-income families transition to homeownership, Provident provides Federal Housing Administration loans that feature competitive rates and down payment requirements as low as 3.5%. FHAs have both fixed and adjustable rates and a variety of terms. Most importantly, they offer more flexibility than conventional loans, accepting applicants who would otherwise be denied for their inability to make a down payment (like recent college graduates or people trying to complete their education), a higher debt-to-income ratio, or a credit rate that’s been marred by bankruptcy or foreclosure.
For more information about FHA loans, please visit www.fha.com.