FHA loans are designed with the homeowner in mind. These government insured loans offer many benefits and contrary to popular belief, they are not just for first-time homebuyers. FHA loans are available for purchase and refinance transactions and offer very competitive fixed and adjustable interest rates. FHA loans are ideal for clients with limited credit history and those looking for little to no money down loan programs. FHA loans are not for borrowers who have had major credit problems in the past 12 months.

Designed to protect the homeowner, FHA loans provide borrowers with more manageable monthly payments by using stricter requirements for debt to income qualifications than similar conventional loans. In most cases, an applicant will not qualify for as much home through FHA as with a conventional option. FHA loans also require the subject property to pass a comprehensive property inspection to ensure that all aspects of the home are in good condition to prevent homeowners from having to incur unexpected repair expenses. With this in mind, FHA loans are often more appropriate for newer homes and thus not appropriate for "fixer-uppers".

FHA loans are intended for median income clients and loan size limits vary based on geographic location. The maximum loan limits for the State of Iowa is $168,000.