The Fortera Credit Union is a mortgage from Fortera Credit Union. An FHA loan is a type of mortgage that’s insured by the Federal Housing Administration (FHA), which is part of the U.S. Department of Housing and Urban Development (HUD). FHA loans are designed to make it easier for people with limited savings or lower credit FHA loans typically require lower minimum down payments, but borrowers must pay mortgage insurance premiums (MIP), upfront and throughout the life of the loan. There are maximum loan amounts that apply to FHA loans that vary by location.