How does Federal Housing Assistance work (FHA)?

[Tenzin Sherap]

Hello BP community!! So lately I've seen people talk about FHA, and I heard that you get a really low down-payment(3.5%) and that sounds really good for a 19/yr who is just starting out! And I also heard that you have to live in the house for about a year to get the loan? So please share your experience and knowledge! Thank you BP community!