There is a lot to consider when deciding which mortgage product best suits your particular situation. FHA Mortgage loans have been helping people become homeowners since 1934. FHA home loans are backed by the Federal Housing Administration. If you are looking to finance a primary residence, FHA is a great option to review as these home mortgage loans are designed to make home-ownership more attainable and or often a great option for first time home buyers or buyers without a large down payment saved up.