FHA Loans
Government-backed loans designed to make homeownership more accessible. Perfect for first-time buyers with lower credit scores or smaller down payments.
Government-backed loans designed to make homeownership more accessible. Perfect for first-time buyers with lower credit scores or smaller down payments.
FHA loans are insured by the Federal Housing Administration, offering unique benefits for homebuyers.
Put as little as 3.5% down on your home purchase - much lower than many conventional options.
Qualify with credit scores as low as 580 (or 500 with 10% down). Ideal for rebuilding credit.
Shorter waiting periods after bankruptcy or foreclosure compared to conventional loans.
Use gift money from family members or approved sources for your entire down payment.
Sellers can contribute up to 6% toward your closing costs, reducing your out-of-pocket expenses.
FHA loans often have lower interest rates since they're backed by the government.
FHA loans have more flexible requirements than conventional mortgages:
FHA loans are perfect for first-time buyers. Let us guide you through the process with no hassle.
Check Your EligibilityNo SSN required. No impact to credit score.
FHA loan limits vary by county and are updated annually.
$498,257
Low-cost areas
$1,149,825
High-cost areas
FHA loans require mortgage insurance premium (MIP) - an upfront premium of 1.75% of the loan and an annual premium of 0.55% paid monthly. This insurance protects the lender if you default and enables the flexible FHA guidelines.
For loans with less than 10% down, MIP is required for the life of the loan. With 10%+ down, MIP can be removed after 11 years. Many borrowers refinance to a conventional loan once they have 20% equity to eliminate mortgage insurance.
FHA loans are for primary residences only - you must live in the home. The property must also meet FHA safety and habitability standards. You can purchase single-family homes, 2-4 unit properties (if owner-occupied), and approved condos.
No! While FHA is popular with first-time buyers, anyone can use an FHA loan for their primary residence. Repeat buyers, those recovering from credit issues, and those who prefer lower down payments all use FHA loans.
Our FHA loan specialists are here to help you achieve homeownership.