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A large percentage of people when purchasing a home usually do so by obtaining financing. For those unable to put down the usual 20%, they will turn to FHA, or the
Federal Housing Administration

FHA's main goal is to help the borderline buyer be eligible to buy a home. And in the process, they want to make sure they don't get in over their head or get taken advantage of.

As to whether or not it's a better loan for you as a buyer??...that's something you're going to have to discuss with your lender...now that's good to know.