A government-backed loan.
An FHA loan is government-backed. FHA loans are mortgages insured by the FHA.
These loans are associated with lower down payment requirements and more flexible underwriting guidelines but do require mortgage insurance throughout the life of the loan.
An FHA loan is a great option for borrowers with lower credit scores and less funds readily available for closing. However, there are additional requirements to qualify for a condo or 3-4 unit home using FHA financing.