FHA

Low down payment, high flexibility

Make your dream home a reality with minimal down payment and flexible credit requirements.

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Helping homebuyers overcome financing challenges

FHA loans make homeownership more accessible with lenient qualification standards and lower upfront costs. If you’re a first-time homebuyer, want a lower down payment, or have a moderate income, an FHA loan may be a great fit for you.

FHA benefits

  • Down payments as low as 3.5% making homeownership possible with minimal savings
  • More lenient credit requirements with approval possible for scores as low as 580
  • Higher debt-to-income ratios accepted compared to conventional loans
  • Gift funds allowed for down payment and closing costs expanding your financing options
  • Lower mortgage insurance premiums than private mortgage insurance for some borrowers
  • Limited lender fees protecting you from excessive closing costs

Eligibility requirements

  • Minimum credit score of 580 for a 3.5% down payment or 500-579 with 10% down
  • Property must be your primary residence not an investment or vacation home
  • Steady employment history showing stability in your income source
  • Debt-to-income ratio typically not exceeding 43% with some exceptions possible
  • No foreclosures within the last three years or bankruptcies within the last two years
  • Mortgage insurance required regardless of down payment amount