Lower Interest rate:
You can get a FHA loan at very low interest rates. Also, lenders are sure of getting back their money as this is government backed loan. Lower interest rates save thousands of dollars for you over the term of the loan.

Easy requirements:
As compared to other conventional loans, FHA loans are easy to obtain as they have lenient requirements. For instance, you need to have only 620 as minimum credit score which is unacceptable with other lenders.

Refinance with lower rate loan:
You might be having more expensive loans presently. You can get rid of these loans by getting them refinance by FHA loans. You can buy your spending less.

Getting rid of troublesome home loan:
You can get rid of a troublesome home loan by taking advantage of low rate FHA loans. You can even stop foreclosure and can save your house.