For anyone who has been told by their real estate agent–or anyone else, for that matter–that government-backed mortgages are too much trouble, Martha Simmons has one word: poppycock. That might have.
Benefits of FHA Loans: Low Down Payments and Less Strict Credit Score Requirements. Typically an FHA loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and you can have less-than-perfect credit. For FHA loans, down payment of 3.5 percent is required for maximum financing.