Summary of the FHA Loan Process. Which are the FHA Mortgage Loan Needs? It’s also wise to realize that as the qualifications aren’t as strict as those for a bank that is traditional, you have less options with regards to the kind of loan you get or perhaps the definition of of one’s loan. As an example, the FHA provides loan terms between 15 and three decades while offering only fixed-rate loans. Any other facet of the real estate procedure…