FHA loans are mortgage loans backed by the Federal Housing Administration, designed to help low-to-moderate income borrowers qualify for home financing. These loans typically require a lower down payment, often as low as 3.5%, making homeownership more accessible for many people. One of the key benefits of FHA loans is their flexible credit score requirements, allowing individuals with less-than-perfect credit to secure a mortgage. Additionally, these loans can be used for various property types, including single-family homes and multi-unit properties, further expanding homeownership opportunities.